Tips for Passing Series 7 and 66
Hey guys , this forum helped me through my studying and i promised myself once i passed id write a post , and maybe help some of you.
Series 7: passed with 85
I studied about 4-5 hours a day for 5 weeks , and after walking out of the exam i felt like i over studied.
My firm provided me with the STC material ( i also bought the series 7 for dummies)= read them both
took the progress exams
and did exams 1-12 only the QA exams i never made it to the closed book.
one thing i can definitely say contributed to me passing is using quizlet, i can not stress this enough. I am very lazy and never,ever create flash cards when i study.Luckily in quizlet there have been hundreds of people using it so you can easily print out a section your having problems with , that someone else created.This will easily save you some hours from sitting there and creating your own flashcards.
Also when taking the STC QA part of the test, i simply copy pasted the questions i got wrong onto quizlet and made some flashcards with areas i had problems.
For the exam itself, i strongly believe STC over prepares you in a good and bad way.
For one STC puts a lot of focus into more complex options and margin , the hardest thing i came across is calculate breakeven, hedge strategy for options , and 2 questions on what a straddle was. A lot of questions on STC are extremely long and this is something you dont see in the 7. Usually very simple just know your material.
Series 66: passed with 82
i had 2 weeks for this one.
My firm provided me the STC material as well.
I spent over a week reading the material , i just couldnt get myself to finish it in 5 days. (maybe i was burned out with the 7)
Things i did:
quizlet, i probably printed over 40 pages(get a laser printer lol trust me) of regs/laws/quick notes that other people created (take this with you and read them quickly right before the test) this will ensure your dont miss those simple questions .
Biggest tip i can give yall for the 66 is Focus 90% on the laws and regs.
I was short on time so i prioritized this portion of the test ,also i just passed the 7 and felt confident on the investment section.
I took all the progress exams 25 questions each or so , and only one STC qa exam 110 questions .
I stopped with STC and based on what i read in this forums purchased just the 5 exams from TC think it was like 90 bucks.
If i wouldve had more time i wouldve stuck it out with STC and saved the money . However, i had 3 days left and i do think that TC helped me pass.
The biggest difference is the same thing i said with the STC series 7 , the questions on STC feel like paragraphs and in reality this will over prepare you or can actually hurt you because you spend unnecessary time on this.
in reality the exams questions are short and tricky. But not over complex like STC. Most of it is on the reg/laws but it does have a mix of everything products,suitability, but those should be simple.
Also i had no math(maybe other people get it) , so i wouldnt spend much time on the fututre value equations ,npv etc . just understand the concepts.
Good Luck everyone!