The Series 7 Exam is a representative-level FINRA exam that qualifies an individual to sell a full range of investment products, including corporate securities, municipal securities, investment companies, variable products, direct participation programs, options and government securities.
Exam Details
Exam Format: 125 multiple-choice questions
Exam Duration: 3 hours, 45 minutes (225 minutes)
Passing Score: 72%
Corequisite: SIE Exam
Broker-dealer Sponsorship: required
Exam Outline
| FUNCTION DESCRIPTION | Percentage of Exam | No. Questions |
|---|---|---|
| Function 1: Seeks Business for the Broker Dealer from Customers and Potential Customers | 7% | 9 |
| Function 2: Opens Accounts after Obtaining and Evaluating Customers' Financial Profile and Investment Objectives | 9% | 11 |
| Function 3: Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | 91 |
| Function 4: Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions | 11% | 14 |
| TOTAL | 100% | 125 |
Test Center
Prometric is the sole vendor delivering all FINRA-administered exams. Prometric facilities are located in most cities. To schedule an exam, contact Prometric at:
- (800) 578-6273, or
- www.prometric.com
If your local test center does not have favorable availability, consider testing in a neighboring city. Ask about parking when you schedule your exam. Candidates must present valid, current, government-issued photo identification. This includes:
- Passport
- Driver's License
- Military ID
Student IDs are NOT accepted by Prometric.
COVID-19 Considerations: Due to COVID-19 health concerns, all Prometric test centers require face coverings, and that all testers are free from COVID infection and/or exposure during the previous 14 days. See https://www.prometric.com/covid-19-update/test-center-policies for the latest COVID updates.
In addition, many exams allow Remote Proctoring - see https://www.prometric.com/test-takers/search/1finra for more info.
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