Failed the Series 7, studied like crazy for a whole month. I have a 2nd shot... Advice?

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May 21, 2017 6:45 pm

Hey everyone, I got hired by a very well known firm and we were given 4 weeks to study for and pass the Series 7. I used the Kaplan study material, as well as their online live class, and I studied every day for 5-7 hours. I was scoring in the high 70s on my practice exams in their Q-Bank, and did 2900 practice questions, so you can imagine my surprise when I scored a 60 on the actual exam. The test had a TON of options, a TON of convertible bond calculations, and our instructor told us there wouldn't be that many calculations....

I have a second shot at this, so I want to know everyone's advice for passing this thing. I'm rereading the chapters I'm fuzzy on and continuing the practice tests... What did you use to understand options and options/index calculations? How did you nail down the math side of the exam? Thanks so much guys!

Jun 6, 2017 10:31 pm

Having more calculation questions is actually preferred because after you're done with the calculating, you generally know you have the right answer. The memorization questions are much more difficult in that there's no way to verify whether or not you've answered correctly unless you specifically know the answer.