Series 7 exam
The general securities representative exam (GSRE) is a test for registered representatives. The test is also known as the Series 7 exam. The Financial Industry Regulatory Authority (FINRA) administers the exam. In the United States, stockbrokers take this test to get a license to trade.
The GSRE is a six-hour exam. It is held in two three-hour sessions. There are 260 questions on the test, 250 of which count toward the final score. Candidates have to score at least 72 percent to pass.
The Series 7 exam tests candidates on five functions.
|Test Breakdown by Function||Number of Questions||Percentage of Test Questions|
|Seeks Business for the Broker-Dealer through Customers and Potential Customers||68||27%|
|Evaluates Customers' Other Security Holdings, Financial Situation and Needs, Financial Status, Tax Status, and Investment Objectives||27||11%|
|Opens Accounts, Transfers Assets, and Maintains Appropriate Account Records||27||11%|
|Provides Customers with Information on Investments and Makes Suitable Recommendations||70||28%|
|Obtains and Verifies Customer's Purchase and Sales Instructions, Enters Orders, and Follows Up||58||23%|
As of July 2014, the registration cost is $270.
- List of securities examinations
- Investment Company Products/Variable Life Contracts Representative Exam (Series 6)
- Uniform Securities Agent State Law Examination (Series 63)
- General Securities Principal Exam (Series 24)
- U.S. Securities and Exchange Commission
- "General Securities Representative Qualification Examination". Financial Industry Regulatory Authority. Retrieved 2014-07-06.
- "Series 7 Examination". U.S. Securities and Exchange Commission. Retrieved 2014-07-06.
- "FINRA Administered Qualification Examinations". FINRA. Retrieved 2014-07-06.
- "Series 7 Exam". Stockbroker 101. Retrieved 2014-07-06.
|Wikibooks has a book on the topic of: NASD Series License|
|Wikibooks has more on the topic of: Series 7 exam|