Series 7 practice exam
The Series 7 exam — the General Securities Representative Qualification Examination (GS) — assesses the competency of an entry-level registered representative to perform their job as a general securities representative.
Also referred to as the Series 7 "Top-Off" Exam. This exam must be passed in conjunction with the Securities Industry Essentials (SIE) Exam in order for the candidate to receive a full General Securities license from FINRA. You must be sponsored by a FINRA member firm in order to take the Series 7.
An investor's portfolio allocation is:
- 35% small cap growth funds
- 10% large cap growth funds
- 20% sector funds
- 20% emerging market funds
- 10% speculative grade corporate bonds
- 5% money markets
What investment objective does this portfolio align closest to?
The basics of customer-facing sales activities related to a general securities representative role. What you need to know and do when describing investment products and services to customers with the intent of obtaining their business.
The rules and processes you must follow when opening a customer account and informing them of their options. Also includes the requirements to make reasonable efforts to obtain customer profile information and report anything suspicious.
The heart of the exam. Covers how you must provide customers with information about their investment options, especially the suitability of investments for them given their profile and goals. This requires being fluent in the risks, benefits, and typical investors of major financial products.
The logistics portion, covering how to obtain quotes, execute orders, and how to enlist your supervisor to assist in the resolution of discrepancies, disputes, and errors.