description Series 7 Exam (FINRA) Overview
The FINRA Series 7 exam assesses an examinee’s knowledge of U.S. federal securities laws, regulations, and industry practices required for selling investment products like stocks and bonds through registered broker-dealer firms.
help Series 7 Exam (FINRA) FAQ
Can I register for the Series 7 exam without a brokerage firm?
No, a FINRA member firm or another eligible self-regulatory organization member must sponsor a candidate for the Series 7. Individuals can take the Securities Industry Essentials exam without sponsorship, but passing the SIE alone does not authorize securities sales.
How many questions are on the Series 7, and what score is required?
The exam has 125 scored multiple-choice questions plus 5 unscored pretest questions. Candidates need 72 percent to pass.
How much time do candidates receive for the Series 7?
FINRA allows 3 hours and 45 minutes for the exam. That works out to less than two minutes per question, so timed practice is important.
Does passing the Series 7 let someone sell every type of financial product?
It qualifies a registered representative for a broad range of securities activities, including stocks, corporate bonds, municipal fund securities, options, and investment-company products. It does not replace state-law exams or specialized registrations required for activities such as commodities or certain supervisory roles.
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