General Securities Representative Exam
The General Securities Representative Exam, commonly referred to as the Series 7 Exam, is a required exam to become a
Registered Representativeof a broker-dealerin the United States.
The exam is a six-hour, 260 question test (250 of which count towards the final score) that is owned and maintained by the National Association of Securities Dealers (NASD) and administered by the self-regulating Financial Industry Regulatory Authority (
FINRA), which covers a broad range of investments including stocks, bonds, options, limited partnerships, and investment company products (e.g., open- and closed-end funds). A candidate must answer 70% of the questions correctly in order to pass. Upon passing the test, one is granted a Series 7 / General Securities license. The series 7 license is the most comprehensive of several securities licenses that permit an agent to communicate with retail investors. For this reason, many account managers, analysts, and other executives in the employ of a registered Broker/Dealer hold Series 7 licenses. To satisfy the securities dealing requirements of some states, Series 7 license holders must also hold the Series 63 licenseor the Series 66 license, depending on that state the licensee works in and the state his/her clients reside in.
List of Securities Examinations
Uniform Securities Agent State Law Examination(Series 63)
Investment Company Products/Variable Life Contracts Representative Exam(Series 6)
* [http://www.sec.gov/answers/series7.htm SEC]
* [http://www.finra.org/Industry/Compliance/Registration/QualificationsExams/RegisteredReps/P011051 FINRA Registration and Examination Requirements]
* [http://www.finra.org/web/idcplg?IdcService=SS_GET_PAGE&ssDocName=p038201 NYSE Series 7 Study Outline]
Wikimedia Foundation. 2010.
Look at other dictionaries:
List of Securities Examinations — The following is a list of FINRA, NASAA, and NFA financial securities examinations. Most FINRA examinations are divided into two categories: Registered Representative and Registered Principal levels. An asterisk designates that there is no… … Wikipedia
Uniform Securities Agent State Law Exam — The Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by NASAA and is administered by FINRA. The examination is designed to qualify candidates as securities agents within a state; nearly all… … Wikipedia
Registered Representative — A Registered Representative, also called a General Securities Representative, a Stock Broker, or an Account Executive, is an individual who is licensed to sell securities and has the legal power of an agent. Registered Representatives usually… … Wikipedia
Uniform Combined State Law Exam — The Uniform Combined State Law Examination also called Series 66 exam is developed by NASAA and is administered by the NASD. This examination is designed to qualify candidates as both securities agents and investment adviser representatives. The… … Wikipedia
Stock broker — A stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors. A broker may be employed by a brokerage firm. Contents 1 Services… … Wikipedia
Series 7 — may refer to:*The General Securities Representative Exam, commonly referred to as the Series 7 Exam. It is the most comprehensive financial securities exam offered by the FINRA *, a movie made in 2001. This film is also commonly referred to as… … Wikipedia
Financial analyst — A financial analyst (or securities analyst, research analyst, equity analyst, investment analyst) is a person who works with financial analysis.JobAn analyst will write reports on the companies they are supposed to cover, trying to describe the… … Wikipedia
A Colossal Failure of Common Sense — Author(s) Lawrence G. McDonald Patrick Robinson … Wikipedia
Financial adviser — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Em … Wikipedia
Series 79 — A examination to ensure a candidate is qualified to become a Limited Representative Investment Banker. The Series 79 exam is administered by the Financial Regulatory Authority (FINRA) and ensures those looking for positions in investment banking… … Investment dictionary