Series 7 and 66 Exam Details
Series 7 Exam Details
The FINRA® Series revised 7, General Securities Representative Qualification Exam, is required of individuals soliciting the purchase or sale of corporate, municipal and U.S. government securities, options, direct participation programs, investment company products, and variable contracts.
On October 1, 2018, FINRA restructured the Series 7 exam. New candidates are required to pass the Securities Industry Essential (SIE) exam along with a Series 7 exam to obtain the General Securities Representative Qualification registration. Kaplan has study materials available for the SIE exam as well as the Series 7 exam.
125 multiple-choice questions
3 hours, 45 minutes
Outline of Topics Covered
- Seeks business for the broker-dealer from customers and potential customers
- Opens accounts after obtaining and evaluating customers’ financial profile and investment objectives
- Provides customers with information about investments, makes suitable recommendations, transfers assets, and maintains appropriate records
- Obtains and verifies customers’ purchase and sales instructions; processes, completes, and confirms transactions
Series 66 Exam Details
The NASAA Series 66, Uniform Combined State Law Examination is required of individuals acting as or soliciting for the service of investment advisors and soliciting the purchase or sale of securities within a state. This series fulfills the requirements of both the Series 63 and Series 65.
100 multiple-choice questions
2 hours, 30 minutes
Outline of Topics Covered
- Economic Factors and Business Information
- Investment Vehicle Characteristics
- Client Investment Recommendations and Strategies
- Laws, Regulations, and Guidelines, including Prohibition on Unethical Business Practices
Best Practices Guide
Kaplan has prepared a Best Practices Guide to help you pass the first time! This guide includes recommended study hours, how to use your study materials effectively, and test-taking tips. Access the guide and other free materials here.
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