My Series 7 experience - S7 review advice pass perfect passperfect PP
I just passed my series 7 and I wish you all the same who are in the process. I tried to keep this post short but it's not, haha. Anyway, I figured I would document my experience so others could get a good reality check as to what the situation is with pass perfect ...just like I did from this site. Forgive me, it's a long test and I'm only touching on what I can remember, without being unethical. I'm an average intelligent person, probably a bit more, and I spent about 2 mouths studying. I'm 24 and I have no experience in the industry yet. I have a business management degree and an MBA. However, I feel that I must mention that the MBA is completely different than the S7. It doesn't prepare you for the S7 barely at all (maybe 5-7% tops). I used pass perfect and earned ~85% on the practice quizzes and ~83% on my chapter quizzes. I earned a 61/71/68/73/73/73 on my practice finals and a 68/75 on the midterms. I passed with a 78%. (it was TOUGH and, honestly, clicking submit I wasn't sure I was going to pass, but i'm a little necrotic and self critical/I like to shoot for a 4.0). I marked the ones I was unsure about, and that averaged me a 70% on part 1 and a 62% on part two (assuming I got ALL of the marked ones wrong). Of course you can narrow some questions down to a 50/50, 75/25 chance. The multiple choice is just like Pass Perfect; some multiple choice are "I. & II.", "I & III", "II & III", "II & IV". I did not watch the lecture videos because I was told it would slow me down. As far as the exam, unfortunately or fortunately for us, the idea is that you know each main point inside and out: Var. annuities, REITs vs. RELPS (flow through), Limited partnerships, muni bonds, gov bonds, corp bonds, common stocks, inflation/interest rate>market price and how it affects the bond/stock. Hmm..... also, know "long mkt value" - Dr. = EQ and Cr - "short mkt value" = EQ stuff. You must know who does what, when, and why. **It's very situational.** The reason people say options are a priority is because they're easy in comparison, and it'd be a shame to miss them. My (minimal) advice would be, to be able to do a presentation on the previous concepts flash card style. ...Again, keep in mind that this is just all of the info I can remember. Think of it like a web of information and each "link" can be tested. There's undoubtedly more concepts, but hopefully this helps someone. Any questions, just let me know. I'm happy to help as much as ethically possible. I think this is going to be my new favorite forum, so I'll be around.
Here are my scores, which earned me a 78% on the real exam:
Sidenote: I'm brand new to the industry and I would greatly appreciate it if anyone has any advice for me, or can point me in the right direction; whether it's a good thread, news articles, a book, etc. I'm eager to learn the ins-and-outs. Thank you for any input.