Series 7 exam
The Series 7 exam, formerly known as the General Securities Representative Exam (GSRE), is a test for registered representatives.  The Financial Industry Regulatory Authority (FINRA) administers the exam. In the United States, stockbrokers take this test to get a license to trade.
The Series 7 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 Feb 2015, the registration cost is $290.
- 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
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