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The best advice for those preparing for the Series 7

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Apr 22, 2014 2:36 am

There are a few things you should understand based on my first attempt of not passing the exam and my second attempt which resulted in me passing.

1) If you end up retaking the exam guess what? Based on my experience you will see a lot of the same questions from your first time around.  With this in mind whatever surprised you on your first time around or whatever you are confident that you got wrong from that first try study those concepts it will help trust me!

2) I sucked at options big time.  What helped me the most on my second go around was writing down the options chart in this fashion:

Left side top = Long Call                   Right side top = Short Call

Left side bottom = Long Put              Right side bottom = Short Put

You know what you did just did there by righting it down this way? You made it so you can identify a straddle (The sides) and spreads (the middles).  This helped me so so much that I wanted to pass this along to you all.

Another note, I was discouraged after failing on my first attempt but I want to reiterate that you can pass the 7 even if it doesn't happen the first time around.  You just need to put in the needed work in those areas and get comfortable with the options chart.

I really hope this helps someone out there!