Series 7 Update -Pass Perfect (old)

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May 16, 2012 2:16 pm

I wanted to pass along this information that I found on Pass Perfect's website.  It is old but talks about what to expect with the revised series 7 exam. 

SERIES #7 - UPDATESeptember 8, 2011FINRA has announced the long-awaited revised Series 7 test, with an effective date of November 7th. The exam stays at 250 questions to be completed in 6 hours, but the passing grade has been raised to 72%. The topic areas have been fundamentally reallocated, with less emphasis on municipal bonds and options (however these areas are still each about 10% of the exam); with more emphasis being given to suitability, retirement planning, investment companies and regulations. Because we have been continually updating our material for new products and rules, our current material already covers the new study content. We will be able to delete obsolete information from the material, knowing that it has been deleted from the study outline.

Please be aware that with any major test change like this (the Series 7 had its last major revamp in June of 1986!), the "shock of the new" can dramatically lower the passing rate. Anyone who is thinking about taking the exam in November or December may wish to move up his or her test date and take the exam before it changes. However, we don't expect that this will dramatically affect our passing rate, since we completely cover the content in our current program. Because our Series 7 question sample pool is so varied and deep (over 7,000 questions), all we have to do is change our question selection algorithms to reflect the make-up of the revised test.