Advice on passing the Series 7 exam?

Question

For my job, I have to pass the Series 7 exam coming up on the 25th. Does anyone have any advice or tips on how/what to study? I NEEEEED to pass this test on the first try. Any advice is appreciated. Thanks!

Answer 1

Do lots and lots of practice questions. Make sure that you review your mistakes. If you use a good study guide and do a lot of practice questions, you will see a lot of the same exact questions on the actual exam. I used STC (Securities Training Corporation) study materials when I took the test and I was very pleased, but there are a lot of good study courses out there. Be sure to understand bullish and bearish option strategies. Once you get the hang of options, they are straightforward, but the concept is difficult when you first read about them. Also, be sure that you understand how new securities are offered.

I really think that if you do a lot of practice tests and make sure that you pass them, you will do fine. You really don't need to have a deep understanding of the material.

A lot of people talk about how difficult the exam is. Ignore them. For some reason, people like to make other people nervous. Don't get psyched out! Just do the practice questions, and you should be in good shape. If you do a lot of practice tests, there will be no surprises on the Series 7!

Answer 2

Some of the responses that you have received are not fairly presented.

Many people do not pass the 7, and there is no comparison taking the 7 versus the 6, 63. or 65.  Yes the 7 is very difficult, while the others are a cake walk, if you pass the seven, you could walk in and ace the 6, 63 & 65.

The longer you've been out of school, the more difficult the 7 will be, and if you've worked in the industry for any length of time it would even be more difficult.  If are just out of school and have not worked in the industry you'll have good study habits and you're mind will not be cluttered.

The 7 is really mental masterbation, you have to answer the questions by telling them what they want to hear and what is not necessarily done in the industry.  

The test is basically from the study material, just get the basic of understanding what is right an wrong and you'll get most of the test.

Go through the test, and knock off the question that you know for sure, don't worry if you pass a lot of questions.  When you run through most of the test, go back and address the questions that you passed over, you'll be surprised that some of the question you knew on the first pass, are similar to the ones you skipped over.

Don't panic, either before the test or during it since it does not accomplish anything.  Relax (that's easy to say), take your time, they give you sufficient time to complete what you have to do.  

Being from the industry, the one thing to keep in mind, if you know how dumb sales reps really are, then you know if they can pass the test (most after sereral tries) you can do it also.  

Good luck, I know what you are going through but just relax, and it wouldn't hurt to say a prayer.  

Answer 3

all of these licensing tests are pretty easy.  i don't know anyone who has actually failed them (though i suppose it's theoretically possible).

just spend some time with the workbooks your firm probably gave you, and you will most likely pass.  try not to get too stressed out about it - as long as you know what you're doing, you shouldn't have too much of a problem

these tests were really only created so that investors would have more faith in the investment community.  of course, this was based on the assumption that the public never find out how easy it is to pass.  it's more of a tool for weeding out insanely incompetent people than anything else.