Series 7

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Jul 27, 2005 5:22 pm

please excuse the potentially stupid question ... i work for a very
very small firm without the luxury of a full blown nasd compliance
group ... ive submitted my form U4 and am ready to take the series 7
... do i need to wait for my CRD# to take the exam or do i take the
exam first in order to receive the CRD#.  obviously, my firm is a
broker/dealer with its own CRD# and is going to sponsor me. 
thanks in advance.

Jul 27, 2005 5:33 pm
the.ronin:

please excuse the potentially stupid question ... i work for a very very small firm without the luxury of a full blown nasd compliance group ... ive submitted my form U4 and am ready to take the series 7 ... do i need to wait for my CRD# to take the exam or do i take the exam first in order to receive the CRD#.  obviously, my firm is a broker/dealer with its own CRD# and is going to sponsor me.  thanks in advance.


You will have to wait, but it happens very fast once your firm sends in the U-4.  Give it a few days then call the 800 number you use to set test appointments, or log on to their website and give them your social security number.  If the NASD has processed your paperwork you can make an appointment.


Jul 27, 2005 5:41 pm
the.ronin:

please excuse the potentially stupid question ... i work for a very very small firm without the luxury of a full blown nasd compliance group ... ive submitted my form U4 and am ready to take the series 7 ... do i need to wait for my CRD# to take the exam or do i take the exam first in order to receive the CRD#.  obviously, my firm is a broker/dealer with its own CRD# and is going to sponsor me.  thanks in advance.


What happened to the school system?  Nobody over age 40 would dream of writing something that appears to be a run-on sentence with no punctuation or capitalization.


Do schools no longer teach things like the first letter of a sentence should be capitalized, that the word "I" should be capitalized and so forth?

Jul 27, 2005 6:17 pm
Tough Questions:
the.ronin:

please excuse the
potentially stupid question ... i work for a very very small firm
without the luxury of a full blown nasd compliance group ... ive
submitted my form U4 and am ready to take the series 7 ... do i need to
wait for my CRD# to take the exam or do i take the exam first in order
to receive the CRD#.  obviously, my firm is a broker/dealer with
its own CRD# and is going to sponsor me.  thanks in advance.


You will have to wait, but it happens very fast once your firm sends
in the U-4.  Give it a few days then call the 800 number you use
to set test appointments, or log on to their website and give them your
social security number.  If the NASD has processed your paperwork
you can make an appointment.




Sorry ... When I'm in a rush, I tend to ignore that Shift key
entirely.  So, just to clarify, my name doesn't necessarily show
up under broker check nor would I get a CRD#.  Prometrics
themselves would check to make sure that my information has been
submitted to the NASD?  Thanks again.

Jul 27, 2005 6:25 pm
the.ronin:


Prometrics themselves would check to make sure that my information has been submitted to the NASD?  Thanks again.


Once you are "in the system" Prometrics can find you with your social security number.  They will not need your CRD number.


Naturally you will be in the system before you're told that you're in the system--so if speed is the concern you should check with Prometrics every afternoon to see if the NASD entered your information that day.


Whatever you do be sure to take the test without studying, and when you take it you're supposed to take no more than ten seconds per question.


This forum has a contest going--to see who can score the lowest, but still pass, and be in and out of both halves before everybody else in the testing center has even finished the first half of their test.

Jul 27, 2005 8:01 pm
Tough Questions:

Whatever you do be sure to take the test without
studying, and when you take it you're supposed to take no more than ten
seconds per question.

This forum has a contest going--to see who can score the lowest, but
still pass, and be in and out of both halves before everybody else in
the testing center has even finished the first half of their test.



HAHAHA No thanks.  I'm taking the full eight week study guide and taking every minute they let me.


In all seriousness, thanks for the feedback ... I'd been waiting for my CRD this whole time.

Jul 28, 2005 12:50 am
Tough Questions:
the.ronin:

please excuse the
potentially stupid question ... i work for a very very small firm
without the luxury of a full blown nasd compliance group ... ive
submitted my form U4 and am ready to take the series 7 ... do i need to
wait for my CRD# to take the exam or do i take the exam first in order
to receive the CRD#.  obviously, my firm is a broker/dealer with
its own CRD# and is going to sponsor me.  thanks in advance.


You will have to wait, but it happens very fast once your firm sends
in the U-4.  Give it a few days then call the 800 number you use
to set test appointments, or log on to their website and give them your
social security number.  If the NASD has processed your paperwork
you can make an appointment.




Hey lookee there gang....some acutally USEFUL information from our old buddy Put.



Dude if you only stuck to areas of real expertise....i.e.
"Administration", you might actually have a positive influence on our
little cyber-community, and not be despised by most and constantly
booted.

Jul 28, 2005 11:33 am

You only have to score a 70 to pass.  Sometimes people who are very intelligent do not do well on large tests of this type.


Focus on the big picture and try to learn as much as you can while you are studying. 


The most important thing is not your score.  It is what you learn and take away from the material.


You will NEVER have the time, once you are in production to go back and study.  Good luck.

Jul 28, 2005 2:49 pm

thanks for the feedback maybeeeee ... actually im not a retail
broker.  im an investment banker specifically on sellside
advisory.  that fact that we represent on mergers &
acquisitions and the capital raising of securities makes licensure a
requirement.



i realize that 70 is passing but i would rather try to get the highest
score i can and, as you alluded to, actually learn something from this
... even though the bulk of it is not directly applicable to what i do.



(sorry, there i go missing punctuation again.)