There are many ways to prepare for the Series 7 Test. One way is to take a Series 7 Test preparation course. There are also online courses available. If you are the kind of person who prefers self-study, there are many printed materials as well as software and video test preparation materials available. Classes and study materials can give you practice exam questions as well as specific details of the subject matter of which you must demonstrate mastery. They also offer valuable test taking strategies. FINRA also offers a complete content outline of the Series 7 Test that is useful when studying.
The Series 7 Test covers a broad range of topics.
- For example, some of the Series 7 test topics include general economic theory, the business cycle, and the regulations and rules of the Securities and Exchange Commission.
- You will also need to have a good grasp of the stock market, interest rates and the affects they have on the stock market, along with ethics and insider trading rules and regulations.
It is important to understand government securities, corporate and municipal bonds, indexes, options, and mutual funds. You should have knowledge of the proper way to recruit customers and handle their accounts as well as the fiduciary responsibilities one has as a broker or dealer. These are just a few of the many topics tested in the Series 7 Test.
It is common to spend between 220-240 hours studying for the Series 7 Test. The important thing to do is to choose a way to study that suits your individual learning style and needs as you consider the amount of time you have to spend. Make sure that before you take the Series 7 Test, you are as prepared as you can be.