About the Series 7 Exam
Everything you need to know about the General Securities Representative Exam.
125
Questions
Multiple choice format
225
Minutes
To complete the exam
72%
Passing Score
90 of 125 correct
FINRA Qualification Exam
General Securities Representative (Series 7 Exam)
The Series 7 exam, officially known as the General Securities Representative Exam, is a FINRA qualification test required for individuals who want to sell a broad range of securities products. Passing the Series 7 allows you to sell corporate stocks and bonds, options, municipal securities, U.S. government and agency securities, mutual funds, ETFs, unit investment trusts (UITs), direct participation programs (DPPs), and variable contracts.
The exam assesses your knowledge of the job functions, rules, and regulations needed to recommend and trade these products. This includes assessing client needs and suitability, providing investment information and recommendations, opening and maintaining customer accounts, entering and confirming orders, and processing transactions, all in accordance with FINRA rules, federal securities laws such as the Securities Act of 1933 and the Securities Exchange Act of 1934, and, for municipal securities, MSRB rules.
Who is the Series 7 Exam for?
The Series 7 exam is for professionals sponsored by a FINRA-member firm who intend to sell a wide variety of securities, including stocks, bonds, and options. It is not intended for individuals who only sell mutual funds (Series 6), provide fee-based investment advice (Series 65/66), or work in investment banking (Series 79). You must be sponsored by a FINRA-member firm to take the exam. Your sponsoring firm will submit a Form U4 on your behalf, which opens your testing window and allows you to schedule the exam. You must also first pass the Securities Industry Essentials (SIE) Exam.
What is covered on the Series 7 Exam?
The Series 7 Exam tests the knowledge and skills required for a General Securities Representative. It primarily focuses on the rules for recommending, selling, and trading a wide variety of investments, including corporate stocks and bonds, municipal bonds, options, U.S. government securities, mutual funds and ETFs, and variable contracts (e.g., annuities). The exam also covers managing customer accounts and ethical business practices.
The Series 7 exam content is divided into 4 main topics:
- Finding new customers for the brokerage firm (7%)
- Setting up new accounts after reviewing customer information (9%)
- Providing investment information, making recommendations, moving assets, and maintaining records (73%)
- Handling, completing, and confirming customer trades (11%)
You are given 225 minutes (3 hours and 45 minutes) to complete the exam. The exam fee is $395.
Series 7 – General Securities Representative Exam Specifications
Series 7 Exam Details
Key facts about the Series 7 Exam - the most comprehensive FINRA license.
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[title]Exam Format[/title]
[text]125 scored multiple-choice questions plus 10 unscored pretest questions.[/text]
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[title]Time Limit[/title]
[text]3 hours and 45 minutes (225 minutes) to complete the exam.[/text]
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[title]Passing Score[/title]
[text]72% required (at least 90 of 125 scored questions correct).[/text]
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[title]Prerequisites[/title]
[text]Must pass SIE exam and be sponsored by a FINRA member firm.[/text]
What's Covered on the Series 7 Exam
The Series 7 Exam content is divided into 4 main topics.
[title]Finding Customers[/title]
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[text]7% of exam - Finding new customers for the brokerage firm.[/text]
[title]Opening Accounts[/title]
[icon]mdi:folder-account[/icon]
[text]9% of exam - Setting up new accounts and reviewing customer information.[/text]
[title]Servicing Customers[/title]
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[text]73% of exam - Providing information, recommendations, and maintaining records.[/text]
[title]Processing Trades[/title]
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[text]11% of exam - Handling, completing, and confirming customer trades.[/text]
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What's Included in [Acadio Series 7 Prep]
Everything you need to pass the Series 7 Exam on your first try.
Acadio Customer Reviews
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Jennifer R., Registered Representative
After failing the Series 7 once with another provider, I switched to Acadio and passed with flying colors.
Rating: 5 / 5
Mark S., Financial Advisor
The options content was outstanding. I was dreading that section, but Acadio made it click. Passed with a 78%!
Rating: 5 / 5
Rachel T., Wealth Manager
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Frequently Asked Questions
What are the eligibility requirements for the Series 7 Exam?
You must be at least 18 years old and be sponsored by a FINRA-member firm. U.S. citizenship is not required. While your Form U4 can be filed before passing the Securities Industry Essentials (SIE) Exam, Series 7 registration is not valid until you have passed the SIE.
Do I need to be sponsored to take the Series 7 Exam?
Yes. You must be sponsored by a FINRA-member firm (or another self-regulatory organization) to take the Series 7 exam. Your sponsoring firm will submit a Form U4 (Uniform Application for Securities Industry Registration or Transfer) on your behalf, which opens your testing window and allows you to schedule the exam.
Do I need to provide a Social Security number to enroll?
Yes. Your sponsoring firm will collect your Social Security number (or equivalent foreign ID) when submitting your Form U4. If you do not have an SSN, your firm must contact FINRA directly for instructions.
How long does it take to study for the Series 7 Exam?
Most candidates need 80–120 hours of study time over 6–10 weeks. The Series 7 is significantly more comprehensive than the SIE, covering options strategies, municipal securities, and suitability requirements in depth. Candidates with prior finance experience may need less time.
How many times can I retake the Series 7 Exam?
You may take the Series 7 exam as many times as it takes to pass. Note there is a 30 day waiting period after your first and second failed attempt, and a 180 day waiting period after the third failed attempt and beyond. At Acadio, we extend your course access for free until you pass.
How long is my Series 7 registration valid?
Your Series 7 registration stays active as long as you are working for a FINRA member firm and remain properly registered. If you leave your firm, your registration typically remains valid for two years before lapsing.
Can I take the SIE and Series 7 on the same day?
Yes, broker-dealer associated candidates can take both the SIE and the Series 7 exam on the same day, if Prometric has available testing seats. Each exam is treated as a separate session. You must pass both the SIE and Series 7 to become registered—the order of passing does not matter.
What securities can I sell with a Series 7 license?
The Series 7 allows you to sell a broad range of securities products including: corporate stocks and bonds, options, municipal securities, U.S. government and agency securities, mutual funds, ETFs, unit investment trusts (UITs), direct participation programs (DPPs), and variable contracts.
What registration do I get after passing?
After passing both the Securities Industry Essentials (SIE) Exam and the Series 7 exam, you are registered as a General Securities Representative. Your record will appear on FINRA BrokerCheck, including the exams you have passed, your work history, and any reported incidents or disclosures.
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