Taking a Series 7 Test practice exam is essential. When you take the Series 7 Test, you want to be prepared. There are many print and web-based resources that offer practice exams. These are a critical tool that will help you to be well-prepared the day you take your test.
The Series 7 Test is a pass-fail test.
- A passing score for the Series 7 Test is a score of 70%.
- There are 260 multiple-choice questions, although ten of them are used for research and do not count in the scoring.
- You must answer 175 questions correctly to pass.
- Each question is worth .4 points and there is no rounding on the percentages for the passing score.
- A score of 69.6% would fail. You should answer all of the questions, as there is no penalty for guessing. There are often questions based on tables, charts, or technical articles.
There are many topics included on the Series 7 Test, but each topic has a different amount of questions, or emphasis. For example almost half of the test deals with questions about providing customers with information regarding their investments and making recommendations, while approximately 2% of the test deals with questions regarding evaluation of customers needs. Approximately 1/5 of the test deals with understanding and explaining the securities markets to customers, while only 4% deals with recruiting and qualifying customers. Other topics include handling customer accounts, processing orders, and monitoring financial events.