Passed the 7 Today!

Congrats.  I am sure that Put Trader…er…Home Officer will weigh in and tell you that you are not a real broker.  Maybe not, but you are closer that he will ever be to being a real broker.  Now pass the 63 (or 66) and get you some OJT.

Good Luck. 

Hopefully your career will be better than 71% of what you are hoping it will be.

BTW, get ready for a slew of flames from the "professionals" on this Board.

[quote=menotellname]Congrats.  I am sure that Put
Trader…er…Home Officer will weigh in and tell you that you are not
a real broker.  Maybe not, but you are closer that he will ever be
to being a real broker.  Now pass the 63 (or 66) and get you some
OJT.[/quote]



ive got the Blue Sky next, then insurance, then CFP

I really dont care about getting flamed.   I’ve been moving
and trying to find a new house, doing a lot of other things besides
just studying.  I know how hard it’s been and how much work
I  ha d to put in at odd hours. 

[quote=MikeTampa]I really dont care about getting flamed.   I’ve been moving
and trying to find a new house, doing a lot of other things besides
just studying.  I know how hard it’s been and how much work
I  ha d to put in at odd hours. 

[/quote]



Congrats!  I know how hard it is…took the 66 last month, and
studying for the 24 while my kids and I are living in temporary housing
while waiting for the new house…it’s tough to stay focussed.



Those ‘professionals’ who might flame you are largely gone from the board, I rather suspect.

[quote=MikeTampa]I really dont care about getting flamed.   I've been moving and trying to find a new house, doing a lot of other things besides just studying.  I know how hard it's been and how much work I  ha d to put in at odd hours.  [/quote]

It didn't matter, haven't you read that studying is not important anyway?

Serious question.  When you walked in there did you figure you would pass?

Honestly, I thought I  would pass.  I was in far better shape
to take the test 3  weeks ago, until my landlord called and told
me that he had sold my house to a development company who was giving me
one week to find a new house.  So after finding  a new place
and moving out (with nothing packed) in two days and living on my
buddys couch and at my girlfriends for 3 weeks, i felt that the minimal
studying I had done hopefully allowed me to retain enough from a few
weeks prior to take the test. 



So, to answer your question, yes, I thought I would pass.  It was not a shot in the dark.  

[quote=MikeTampa]Honestly, I thought I  would pass.  I was in far better shape to take the test 3  weeks ago, until my landlord called and told me that he had sold my house to a development company who was giving me one week to find a new house.  So after finding  a new place and moving out (with nothing packed) in two days and living on my buddys couch and at my girlfriends for 3 weeks, i felt that the minimal studying I had done hopefully allowed me to retain enough from a few weeks prior to take the test. 

So, to answer your question, yes, I thought I would pass.  It was not a shot in the dark.   [/quote]

Readers should learn something from this.

In Mike we have a guy who believes he was going to pass, who barely did.  Had he missed two or three more questions than he did he would have failed.  The margin was razor thin, yet he figured he would pass.

Going to take this test figuring you "might pass" is courting disaster.  It costs a couple of hundred dollars to take the test and you have to wait a month to take it again.  If you have a job with a real brokerage firm you usually don't get a second chance.

Is it worth blowing time, money, and possibly your career?

One good way to determine if you have a joke of a job instead of a true career is to know if you're going to be fired if you do not pass.

If the answer is that you have a one time shot at the test the odds are about 99% that you actually work for a brokerage firm instead of a chop shop.

If, on the other hand, you're told that you have as many chances as you need, and that the average guy took it more than once, you're working in a chop shop and will be stealing money from people rather than investing for them.

Just another harsh reality for you to understand.

MikeTampa:

Trust me on this one.  There is no predictive ability concerning test results and career success.  Good luck.

[quote=dashampersand]

MikeTampa:

Trust me on this one.  There is no predictive ability concerning test results and career success.  Good luck.

[/quote]

Actually that is about 180 degrees out of synch with reality.  There are exceptions, guys who barely pass who end up makiing it in the long run, but they are the exception rather than the rule.

As post mortums are done regarding why somebody failed it is far more common to find that they barely passed the exams than that they were the "geeks" who scored very well but could not communicate.

When it comes to offering advice people like geeks.  That, of course, is not true for the chop shops where so many of the guys who contribute to this forum work.  That environement is much like the old adage, "In the land of the blind the one eyed man is king."

There are college graduates who, somehow, end up signing on with a chop shop.  Why they would accept a job at a place where the manager actually bragged that college didn't matter escapes logical thinking adults, but they do.

The reality of life in a real brokerage house is this.  If you're a dumb-ass, and you know if you are or are not, at age 25 you are going to be a dumb-ass at age 40.  Oh, in your mind you will be oh so mature and so forth--but the only way you would have caught up with the non-dumb-ass guy who was also 25 and sat next to you would be if he never learned anything new from that point forward.

See what I'm saying?  The 25 year old smart guy is going to be an even smarter 40 year old smart guy--while the 25 year old dumb-ass will be a smarter 40 year old, but still a dumb-ass by comparison.

Investors are, on balance, not dumb-asses.  People with huge rollovers to be managed are going to know the dumb-ass is a dumb-ass no matter how old they are.

Well, seeing as I was supposed to take the test earlier and canceled
once because I didnt feel as though I was ready, I think that  I
was confident enought to take the exame this time.



In term of whether my job is a joke, I dont think that I would have had
a second chance to pass.  I work for a small, private asset
management firm who really doesnt have the cash to be allocating to
multiple test for me.  I was also getting pressure to finally take
the exam after over a month of studying.  I, however, ran into
things that were outside my control that drastically curtailed the
quality study time I could have put in.



It was at the point where I just needed to take it and get it done already…and I did.  

As far as being someone for whom the idea that college doesnt matter,
I’ll risk getting flamed again like I did a few weeks  ago by
telling you that I have a degree and an MBA, so college does matter to
me and I think  its very important. 

[quote=MikeTampa]Well, seeing as I was supposed to take the test earlier and canceled once because I didnt feel as though I was ready, I think that  I was confident enought to take the exame this time.

In term of whether my job is a joke, I dont think that I would have had a second chance to pass.  I work for a small, private asset management firm who really doesnt have the cash to be allocating to multiple test for me.  I was also getting pressure to finally take the exam after over a month of studying.  I, however, ran into things that were outside my control that drastically curtailed the quality study time I could have put in.

It was at the point where I just needed to take it and get it done already.......and I did.   [/quote]

Mike, nobody knows who you are so what is being said is generic rather than specific.  I'd like to engage you in a dialog for the benefit of those who are reading this.

Do you think that the owner of your firm feels that "getting it done already" meant barely pass?  Or do you think that he or she has formed an opinion of you based on that 71?

I've been around for more than thirty years.  I have found myself saying things like "A 70 is as good as a 90" to somebody who just reported getting a 70, but I assure you that I was not impressed.

If you were showing up to take a blind date out, and she was unimpressive for whatever reason, are you going to say something like, "Hi, I'm Mike--it's great to meet you and you sure look pretty tonight."

Well, the  way I look at it is that I passed and that’s whats
important.  I have a lot to learn, yes, but I have two great
managers to learn from.  Im sure I’ll make some mistakes, but we
all do.  The point is that I found a way to get through it. 
Both my managers don’t really care that I got a 71, they know that I
haven’t been sleeping much lately, with all the extra stuff going on
around me.  They know what I’m capable of and what I can bring to
them.  I’ve been interning here doing asset plans and portfolio’s
since February when I was finishing my MBA. 

Congrats!!  A 71 is a good job. Sure a 95 would be nice, but lets be realistic. This is a Sales Job, not a spelling BEE. I know fellow trainees that scored in the high 90’s that did not even have a high school diploma. Do you think they are still in the biz today? Give it your best and good luck!

Fantastic Mike!!! It is tough when you are balancing a family.  Don’t let up for the 66 it can be tough.  Which firm are you with?

[quote=MikeTampa]Well, the  way I look at it is that I passed and that’s whats
important.  I have a lot to learn, yes, but I have two great
managers to learn from.  Im sure I’ll make some mistakes, but we
all do.  The point is that I found a way to get through it. 
Both my managers don’t really care that I got a 71, they know that I
haven’t been sleeping much lately, with all the extra stuff going on
around me.  They know what I’m capable of and what I can bring to
them.  I’ve been interning here doing asset plans and portfolio’s
since February when I was finishing my MBA. 

[/quote]



Congrats.  All that really counts is that you passed, and nobody
will care  later in your career what you scored on the 7.



I find it ironic that Harsh Reality is trying to be your buddy by
warning you how so many of us will try to ‘flame you’, and then at the
same time he is somewhat dismissive of the fact that you passed because
you ‘barely’ passed.



All that matters is that you passed.  Keep moving forward!

Thanks guys!! Dont have a family yet, i’m just single, but its still
tough.  I’m going for my 63 next and I’m a rep for Compass Wealth
Management, a boutique private asset management firm in Miami. 

[quote=Cruiser]Congrats!!  A 71 is a good job. Sure a 95 would be nice, but lets be realistic. This is a Sales Job, not a spelling BEE. I know fellow trainees that scored in the high 90's that did not even have a high school diploma. Do you think they are still in the biz today? Give it your best and good luck![/quote]

What is "the biz" if somebody without a high school diploma can be in it?

[quote=joedabrkr]

All that matters is that you passed.  Keep moving forward!
[/quote]

Do you think that should be true of your doctor?  All that matters is he or she passed?

[quote=Tough Questions]

[quote=joedabrkr]

All that matters is that you passed.  Keep moving forward!
[/quote]

Do you think that should be true of your doctor?  All that matters is he or she passed?

[/quote]

Do you ask your doctor where he graduated in his medical school class?

Do you ask your doctor what he/she got on their entrance examination?  (that is essentially what the series 7 is to this profession)

Has a client ever asked you what you got on your series 7?  Do most clients even know that our professional exam is called the series 7?

[quote=menotellname][quote=Tough Questions]

[quote=joedabrkr]

All that matters is that you passed.  Keep moving forward!
[/quote]

Do you think that should be true of your doctor?  All that matters is he or she passed?

[/quote]

Do you ask your doctor where he graduated in his medical school class?

Do you ask your doctor what he/she got on their entrance examination?  (that is essentially what the series 7 is to this profession)

Has a client ever asked you what you got on your series 7?  Do most clients even know that our professional exam is called the series 7?

[/quote]

What is offensive is how you celebrate the journey down.

The circle jerk of celebration of a 70%.  If you had standards you'd be appalled, but since you don't you celebrate it.

I assure you that doctors don't celebrate the weakest in their circle with the zeal that this bunch of bozos celebrate each and every near failure as if it were something to be proud of.

[quote=Tough Questions][quote=menotellname][quote=Tough Questions]

[quote=joedabrkr]

All that matters is that you passed.  Keep moving forward!
[/quote]

Do you think that should be true of your doctor?  All that matters is he or she passed?

[/quote]

Do you ask your doctor where he graduated in his medical school class?

Do you ask your doctor what he/she got on their entrance examination?  (that is essentially what the series 7 is to this profession)

Has a client ever asked you what you got on your series 7?  Do most clients even know that our professional exam is called the series 7?

[/quote]

What is offensive is how you celebrate the journey down.

The circle jerk of celebration of a 70%.  If you had standards you'd be appalled, but since you don't you celebrate it.

I assure you that doctors don't celebrate the weakest in their circle with the zeal that this bunch of bozos celebrate each and every near failure as if it were something to be proud of.

[/quote]

I don't know...

However, I am pretty sure that most people conduct some sort of celebration when they pass some sort of milestone even if it is an "entry level" professional examination.

Passing the bar exam doesn't make you a polished lawyer, passing the medical boards doesn't make you a polished surgeon, and passing the series 7 doesn't make you a polished financial professional.  However, passing these exams DOES establish a minimum level of compentency.  If you manage a perfect score on any of these exams are you considered an industry guru?  Not hardly.  This is a cause for celebration regardless of the score.  Everybody knows (or should know) that the real work and knowledge is the on-the-job training that occurs afterwards.

[quote=menotellname]

However, passing these exams DOES establish a minimum level of compentency. 

[/quote]

Can you explain why achieving the minimum level of competency is something to be celebrated?

Where is the pride in being "minimally qualified" for anything?

LOL, this has gotten pretty commical.  I thank you guys who
congradulate me.  I understand that a 71% is not great.  No
one is jerking me off by any stretch, except my  hot  little
Asian girlfriend  .  If you
want to call me the weakest link, fine,  you can do so.  I
wasnt in the top of my undergrad class, i  had the lowest GMAT
score in my MBA class and I have one of  the lowest Series 7
scores. 



But you know what?  At the end of the day, my resume DOES have:



BSC

MBA

Series 7.



Im not ashamed.  At 24, I’m not a financial wizard at all. 
I’m just happy to get it over with and start learning the business
hands on. 

I’d put off the CFP if I could only manage a 71. Besides, you need to concentrate on building your book. BTW, the insurance test is a joke…

[quote=noggin]I’d put off the CFP if I could only manage a 71. Besides,
you need to concentrate on building your book. BTW, the insurance test
is a joke…[/quote]



CFP wont be for a long while.  They just said they want me to take it eventually. 

[quote=MikeTampa]LOL, this has gotten pretty commical.  I thank you guys who congradulate me.  I understand that a 71% is not great.  No one is jerking me off by any stretch, except my  hot  little Asian girlfriend  .  If you want to call me the weakest link, fine,  you can do so.  I wasnt in the top of my undergrad class, i  had the lowest GMAT score in my MBA class and I have one of  the lowest Series 7 scores. 

But you know what?  At the end of the day, my resume DOES have:

BSC
MBA
Series 7.

Im not ashamed.  At 24, I'm not a financial wizard at all.  I'm just happy to get it over with and start learning the business hands on. 
[/quote]

And to think that people who hire young people are concluding that they're not as qualified as men and women of the same age were twenty years ago.

That Mike has an MBA cheapens the degree, that he celebrates his mediocrity as if it were a badge of honor cheapens young Americans.

Dude, you dont even know me.   You make  youself look
like more and more of joke by trying to rip on  me. 

Miketampa- Good luck to you…

[quote=MikeTampa]Dude, you dont even know me.   You make  youself look like more and more of joke by trying to rip on  me.  [/quote]

Does one have to know somebody to grasp, "I got 71 on Series 7 and had the lowest GMAT score of anybody in my class?"

They seem to speak for themselves, don't you think?

Tell me Mike, if you had $1 million to invest would you invest it with somebody who barely passed their brokerage exam and had the lowest GMAT score in their school?

[quote=noggin]Miketampa- Good luck to you..[/quote]

Who needs luck more, a broker who barely passes tests or his clients?

Do you have an MBA?

[quote=MikeTampa]Do you have an MBA? [/quote]

I do indeed.  With honors.

Tought Questions - You’re just a  little punk who sits behind a
computer screen and tries to act like a tough guy.  I acutally
have stuff to do this evening (ie.  bbq, sex with the girlfriend,
friends  to  hang out with), so while you can carry  on
about how  i’m irresponsbile,  young, stupid, whatever you
wish, the point is i have better things to do then concern myself with
someone like you. 

[quote=MikeTampa]Tought Questions - You're just a  little punk who sits behind a computer screen and tries to act like a tough guy.  I acutally have stuff to do this evening (ie.  bbq, sex with the girlfriend, friends  to  hang out with), so while you can carry  on about how  i'm irresponsbile,  young, stupid, whatever you wish, the point is i have better things to do then concern myself with someone like you.  [/quote]

No need to study for Series 66, or to try to get to know your business?

OMG, 31 posts in one day!  That has to be record even for a loser like you Put!!

[quote=Sknits Tihs][quote=Tough Questions]

[quote=MikeTampa]Do you have an MBA? [/quote]

I do indeed.  With honors.

[/quote]

Either he's lying, or he's living proof that an education does not guarantee succeess, nor are any manners imparted on those who can sit for another couple of years in school while most people are out making things happen.

[/quote]

*nods head*

[quote=Sknits Tihs][quote=Tough Questions]

[quote=MikeTampa]Do you have an MBA? [/quote]

I do indeed.  With honors.

[/quote]

Either he's lying, or he's living proof that an education does not guarantee succeess, nor are any manners imparted on those who can sit for another couple of years in school while most people are out making things happen.

[/quote]

Isn't spelling things backwards a very clever code?  It's a wonder the Nazis didn't think about it instead of that Enigma machine deal.

What an odd sense of values some people have.  Nobody who read what Put Trader had to say when he was posting on this board would consider him anything other than very bright.

As for his success.  Only somebody filled with envy would suggest that rising to the executive suite of a Wall Street firm was defined as career failure.

Insisting that it is paints one as a fool.

[quote=Scorpio]OMG, 31 posts in one day!  That has to be record even for a loser like you Put!! [/quote]

You know something Scropio?

When you joined this group you commented that you had come out of school with all the education requirements for a CFP already behind you, that all you needed now was the two years.

I thought to myself that you were one well prepared kid with your head screwed on straight.

Then you impressed me again and again as you commented on the industry with remarkable insight for somebody who had yet to draw a paycheck.

However, over the last month or so you have been a profound disappointment.  You have adopted the slacker attitude that infests your generation--and the generation ahead of you too.

Why are you joining in the ridiculous cheering for mediocrity strutting its stuff as if being mediocre was a worthy goal?