Series 7 Exam Guide
The General Securities Representative Qualification Examination (GS), also known as the Series 7 exam, measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities.
The exam consists of 125 scored questions and candidates are given 225 minutes to complete the exam. The passing score is 72 percent.
There are five main job functions of a Series 7 representative:
– Function 1 (7%): Seeks Business for the Broker-Dealer from Customers and Potential Customers
– Function 2 (9%): Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives
– Function 3 (73%): Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records
– Function 4 (11%): Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions
Pocket Prep’s Series 7 exam prep app breaks down the content into seven knowledge areas:
– Brokerage Office Procedures
– Customer Accounts
– Debt Securities
– Economics and Analysis
– Equity Securities
– Municipal Securities