What to do after failing the Series 7 Examination twice?
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Unfortunately, as I am writing to you this is the second time I fail the Series 7 Examination. I have initially been studying with STC and then I tried Training Consultants. I believe both study materials are fairly good although TC provides with lecture videos and random exams. I scored 60 at my first attempt and 65 at my second although I was much more confident the second time and I thought that I would score at the very least in the low 70s. I am currently trying to be sponsored for a third time but I am wondering to know if it is worth it.
My question is what should I do from now. I am not very passionate about the content and I will make further efforts to study, but (1) isn't two fails a sign to not enter the industry? I read an article from 2014 discussing the issues clients encounter while dealing with brokers who failed more than once a FINRA exam and the fact that these brokers are more likely to have disclosures. (2) I would like to know if any of you failed a couple times the Series 7 and still passed the third time and how successful have you been so far in your career? Assuming that I pass the third time and become licensed, I would like to know how these fails would affect my career. (3) Would it be difficult for me to find another job having failed these exams, would it be a red flag for recruiters? Or would I be solely assessed based on my performance on the job?
Note: Please note that the company I work for doesn't pay any FINRA examinations. They require us to pay the fees upfront and should we fail we are charged. In the even of a passing score, we are reimbursed after three months of employment. In other word, so far I am the only one who lost money and the company may have lost nothing more than the time it took to file the U4 form.
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Yes you can pass on a third or even fourth attempt. I am a branch manager who sponsored a FA candidate who passed on his fourth attempt. I accept some responsibility for the first two failures (high 60’s) as I gave him dated materials to study. However he scored worse after I ordered new materials from Kaplan. The guy is smart (master’s degree) he simply had difficulty with self study. The week long prep class from Kaplan along with practice exams made all the difference. He took the class about a month before his fourth exam and scored in the mid 80s. If you have further questions I would be happy to put you in touch with him.