Passed the 7 yesterday with an 80%

Have the 7 on Friday.  Scoring 74-82 on the STC quizes. 

[quote=PEDROARCHER]

took my exam today and passed with a grade of 88%.

I have been on the industry for around 1 year, and my advice to you, that have not taken the exam yet is to use Kaplan. I had the opportunity to use STC and STCs material is OUT OF DATE. I was getting 85-90 on the STC exams....  when I logged on and checked this website and read some of the reviews, i decided to switch to Kaplan. It was the best decision I made, and on my first practice exam i took on Kaplans i got an 68%.  It was a wake up call!!

 The new exam does have a lot of suitability questions, you should know variable annuities, everything about it..!. at least 10 questions. I saw a bunch of questions on preffered stocks(parity, differences between common,etc..)....  a few on CMOs.  current yield questions, balance sheet, t bills...  everything always related to suitability.  The questions are very complex but Kaplans will get you where you need to be. The questions on the Qbank are harder....  before i took my exam, i was getting around 80% on 250 questions practice exams. Put the time on it and you will get there.

Good Luck and lifes great!

[/quote]

Your STC score is exactly what you got on the exam = Not out of date.

I am studying to take my series 7 again (didnt do so well the first time.) Started the Kaplan study guide and wanted to see if anyone has any advise. 

thanks, 

[quote=Hopelessdreamz]

I am studying to take my series 7 again (didnt do so well the first time.) Started the Kaplan study guide and wanted to see if anyone has any advise. 

thanks, 

[/quote]

Which material did you use the first time? I have not gone through the Kaplan book but I know alot of people use it.  I like STC's material.  My advice is to know options very well.  

I used the STC version and alot of the stuff was out of date, including the SIPC amounts, etc... 

[quote=Hopelessdreamz]

I used the STC version and alot of the stuff was out of date, including the SIPC amounts, etc... 

[/quote]

"

Dollar Limitations

SIPC coverage is also limited to $500,000 per customer, including up to $250,000 for cash. For purposes of SIPC coverage, customers are persons who have securities or cash on deposit with a SIPC member for the purpose of, or as a result of, securities transactions. For example, if a customer has 1000 shares of XYZ stock valued at $200,000 and $10,000 cash in the account, both the security and the cash balance would be protected. SIPC does not protect customer funds placed with a broker-dealer just to earn interest. Insiders of the broker-dealer, such as its, owners, officers, partners, are not customers for SIPC coverage."

Exactly what STC says.

I have noticed that some tax related content can be a little out of date.  IRA contributions and limits seem to change every year.  I don't this this is always reflected in STC's materials.  I would hope that FINRA would not test on the exact amounts.  I also noticed that content regarding Build America Bonds should be updated.  The program expired in 2010.  In February, the administration propsed to reinstate it.

BAB's are a good portion of the Addendum. 

Kyza-

I took the exam in January, passed, not one question about BAB's on mine.

How much from the Addendum? 

I know the feeling Kyza... Good luck this friday and let us know how it goes. 

I dont have the addendum any longer, but it was not heavily tested if I recall accurately. I would pay more close attention to the addendum questions, because it reflects how the questions on the exam are formatted.

Passed.

Heavy on:

ETFs

ETNs

CMO's

REITs

Annuities - everything about them.

Auction Rate Securities

529s

Muni's still

Options - maybe 5 computing - 15 suitabillity

Everything relates to suitability, but requires to know all detail of items available.

Hope that helps!

Kyza....However, will your specific exam have the same emphasis as someone else's exam?  

The answer to my question above is no.  In its content outline, FINRA provides you with a percentage break down of what will be on the exam.  However, this breakdown does not correspond to investment topics such as options or munis.  Questions are chosen randomly from a question bank  to fill their breakdown.  One exam could test heavier on options while another test might be lighter.  You have to know it all.

Well...it was pretty close to the first time i took it.  I didn't study ETNs, CMOs, REITs, and annuities my first time.  Obviously study everything, just pointing out some tips.

Kyza, I know you are trying to help everyone.  Why didn't you study CMOs, REITs and annuities the first time?  Everyone seems to be commenting on suitability but it really is only the aplication of the content.  However, it probably suggests that one needs to know the material very well to answer some of the questions.

I studied a week and a half the first time.  Month n a week the next, 4 hours a  day.  Study everything.  Print off the questions you get wrong from the online tests and learn why.  I created a 'wrong' bank and probably had over 250 sheets of paper to go back over and over til i knew everything.

Okay.  That is a good approach and that is what I tell people to do.  I think it is a good idea to read the material cover to cover more than once and for the questions, the focus should be on the ones you get wrong (and ones you got right but guessed).  While one is reviewing practice exams results, you should be noting which questions you got wrong and then read the explanation and then re-read the relevant part of the chapter.  If you still don't understand it, Google it.

Four hours of studying a day is awesome.  Many people don't have the time or the motivaton to put in that level of effort.