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.

 

Exam Restructuring

On October 1, 2018, FINRA restructured the Series 7 exam. Candidates are now 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 and exam details available for the SIE exam as well as the Series 7 exam

 

SIE 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

 

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.

 

Additional Details

For more exam details, including fees and passing score, please visit FINRA.

  • You must be at least 18 years of age and have a basic understanding of the industry to attend our live classes.
  • Review the enrollment and prerequisite requirements on www.finra.org for the series exam you plan to take. Note, the Securities Industry Essentials (SIE) exam does not require employer sponsorship.
  • Enroll in a Kaplan Financial Education securities licensing course four to six weeks before the class date by calling Kaplan Financial Education customer service at 800.427.4680 or enrolling online at www.kaplanfinancial.com/securities.
  • Schedule an appointment for the licensing exam with Prometric Testing Centers at www.prometric.com/finra three to four weeks before the class begins. You are able to schedule two or more different exams on the same day. However, you must make a separate appointment for each of the exams.
  • For optimum results, plan to do some pre/post-study. Also, plan for homework questions each night and two to three days of review before taking your licensing exam.
  • Take your test within five days of completing the class, and go into the exam with confidence!

Attention Colorado Students

Kaplan Financial Education is approved and regulated by the Colorado Department of Higher Education, Private Occupational School Board (DPOS). View the Colorado College Bulletin.

Get Started

We've outlined the steps you need to take to earn the Series 7 license.

Read More

Begin Preparing for the Series 7 Exam

Premium Package

Live and Online Options

Our most comprehensive study package, the Premium Package, has everything you need to effectively prepare for your qualification exam, including guidance from an experienced instructor.

Essential Package

Self-Study Option

The Essential Self-Study Package gives you the flexibility of studying on your schedule. Planning your exam preparation is made simple with our customizable Study Calendar that schedules daily tasks based on your study time frame and exam date.

Basic Package

Self-Study Option

The Basic Self-Study Package provides a strong foundation for the self-directed individual who has a proven record of success when studying without the guidance of an instructor. Plan your exam preparation with a customizable Study Calendar based on your schedule and exam date.