Series 7 Training
Series 7 Training Options & Tips
When taking the series 7 examination, a candidate may wish to take series 7 training to help prepare for the examination. As defined by FINRA (Financial Industry Regulatory Authority), the series 7 is a 250 multiple choice question examination. The series 7 is administered in two parts of 125 questions each allowing for 3 hours testing time for each part. This registration qualifies a candidate for the solicitation, purchase, and/or sale of all securities products, including corporate securities, municipal securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts.
The series 7 covers a broad base of material which is required for a registered representative to be familiar with to perform their basic job functions. The “broad base” of material is quite daunting and requires that most who take the series 7 examination to supplement their study with series 7 training as well.
There are many options for series 7 training. A candidate can take classroom setting instruction through many different companies (Kaplan, Empire Stock Broker, etc.). These classes offer a candidate the tradition instructor lead training program. They are usually around 5 business days long, require homework, and offer practice exams to prepare individuals for the series 7 examination.
Another option for series 7 training is using an online training method. These are a virtual classroom design. They offer candidates the option to “attend” a classroom via their computer. Students can ask questions, post blogs, and even get real time advice with some companies. The online training options tend to be less expensive than the “live” classroom setting. They are available through the same companies.
Another series 7 training option is self study. Candidates still opt to simply purchase a study or review book and read the material themselves. This is the least expensive option available to a candidate. These are many different examination preparatory books available to candidates. These books also include the option of a cd-rom which will simulate the actual series 7 examination.
All the different series 7 training options each have individual merit. A candidate must determine which study style fits their personality best as well as what method would be most cost effective. To take the least expensive “route” but have to retake the exam multiple times to pass will be self-defeating due to the $200 registration fee candidates pay for each attempt they have on the series 7 examination.
To learn more about the Series 7 please review Series 7: The Online Guide