Important series 7 question

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Jul 20, 2005 8:16 pm


Jul 20, 2005 8:20 pm

I might suggest PMing Babbling Looney.  She probably knows.

Jul 20, 2005 8:40 pm

If you have any prep materials they should give you an almost exact
amount for each section.  What are you using to prepare? 
Something you found in a Cracker Jack box?

Jul 21, 2005 7:06 am

I heard that they are going to take municipal securities out of the test starting on the Monday after Labor Day.

There will be a special test for brokers who want to do them, but if you do not do them you do not have to know about them.

I wonder if we will be able to sell mutual funds that invest in municipal securities or if we will have to take that extra test.

My manager said it is just a way for the NASD to get more money by charging more testing fees.

Jul 21, 2005 12:38 pm

Here is the breakdown from my test results on the 7. It could be different now for all I know.

Registered Rep and the customer-----17

   Licensing, communication with the public, investment objectives

Brokerage Products-----81

    All the nuts and bolts of the various products, taxation,  retirement plans, debt and equity securities

Deriviative Products-----38

    Options, debt options, currency options

Opening Handling and Closing customer accts ----27

    Margin accounts here

Securites markets and regulation of the markets-----56

     Municpal rules stuff here (I think) all the boring rules, red herrings,      primary marketplace secondary market place.  

Order Entry, Confirmation and Settlement----13

     Settlement, delivery rules more boring detailed stuff, record keeping

Factors Affecting Security Value and Investment Decisions----18

      Security analysis, sources of research info and prices.

Good luck

Jul 21, 2005 12:52 pm

It was in front of the Pass Perfect books.  Options and Regulations were high on my test.

So glad that test is OVER.

Jul 22, 2005 8:45 pm

You may also want to loo at the exam outline:

Aug 1, 2005 2:47 am

Took my 7 a few weeks ago. Used Firesolutions. Passed with 88%. Has quite a few questions on CMO’s,yet Federal,State,Nasd rules and regs were the majority. Only had a few options calculations. Mostly option scenerios. Morning session was horrible and afternoon session was a breeze.