The Series 7 exam, also known as the General Securities Representative Exam (GSRE), is a test for registered representatives. The Financial Industry Regulatory Authority (FINRA) administers the exam. In the United States, stockbrokers take this test to get a license to trade.
Contents
Structure
The Series 7 is a six-hour exam. It is held in two three-hour sessions. There are 260 questions on the test, 250 of which count toward the final score. Candidates have to score at least 72 percent to pass.
The Series 7 exam tests candidates on five functions.
In order to take the exam, an individual must be sponsored by a member firm of either FINRA or a self-regulatory organization (SRO).
Registration costs
As of April 2015, the registration cost is $305.
References
Series 7 exam Wikipedia(Text) CC BY-SA