Series 7

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Series 7

An exam one must pass to become a registered representative with FINRA, a designation that authorizes one to trade for the brokerage or other firm for which one works. It authorizes one to sell any security except commodity futures contracts. The Series 7 license is a prerequisite for most other FINRA exams.

Series 7

An examination required of potential registered representatives and designed to test the candidates' basic understanding of the securities industry. The multiple-choice test, developed by the New York Stock Exchange, is administered by the National Association of Securities Dealers. Also called General Securities Registered Representative Examination. See also Uniform Securities Agent State Law Examination.
Case Study The Series 7 is only the best known of many examinations administered by the National Association of Securities Dealers. Other examinations include:
    Examinations for Registered Principals
  1. Series 4: Registered Options Principal
  2. Series 9 and 10: General Securities Sales Supervisor
  3. Series 24: General Securities Principal
  4. Series 26: Investment Company Products/Variable Contracts Limited Principal
  5. Series 27: Financial and Operations Principal
  6. Series 28: Introducing Broker-Dealer Financial and Operations Principal
  7. Series 39: Direct Participation Programs Limited Principal
  8. Series 53: Municipal Securities Principal
    Examinations for Registered Representatives
  1. Series 6: Investment Company Products/Variable Contracts Limited Representative
  2. Series 11: Assistant Representative—Order Processing
  3. Series 22: Direct Participation Programs Limited Representative
  4. Series 42: Registered Options Representative
  5. Series 52: Municipal Securities Representative
  6. Series 55: Equity Trader Limited Representative
  7. Series 62: Corporate Securities Limited Representative
  8. Series 72: Government Securities Limited Representative
  9. Series 82: Limited Representative—Private Securities Offerings Representative
    Other Examinations
  1. Series 3: National Commodity Futures Examination
  2. Series 5: Interest Rate Options Examination
  3. Series 15: Foreign Currency Options Examination
  4. Series 30: Branch Managers Examination—Futures
  5. Series 31: Futures Managed Funds Examination
  6. Series 32: Limited Futures Exam
  7. Series 33: Financial Instruments Examination
  8. Series 63: Uniform Securities Agent State Law Examination
  9. Series 65: Uniform Investment Adviser Law Examination
  10. Series 66: Uniform Combined State Law Examination

Series 7.

To be licensed to sell securities to individual investors, brokers must pass the Series 7 exam, also called the General Securities Registered Representative Examination.

The six-hour test requires knowledge of specific securities, the concept of suitability, the securities markets, and various aspects of maintaining customer accounts, stocks, bonds, options, mutual funds, direct participation programs, and variable annuities, but not commodities or futures contracts.

Anyone taking the exam must be sponsored by an NASD member firm or an industry self-regulatory organization (SRO).

References in periodicals archive ?
After filming series seven at the hospital, one of the show's executive producers, Sarah Swingler, head of the company Dragonfly West, paid tribute to its "great mix of professionalism, warmth and humour".
BENIDORM ITV, 9pm As series seven of Derren Litten's hit comedy continues, the Garveys wonder if Buck A Roo (Lesley Jordan) is really a businessman from Los Angeles, or a flim flam man trying to convince them that Madge has some prime land in Las Vegas.
24 HOURS IN A&E (9pm Channel 4) AFTER six series and 70 episodes at King's College Hospital, the new series seven comes from St George's Hospital in south west London, whose A&E department is one of the most advanced and busiest in the world.
1 When Series Seven runnerup Helen Milligan made the Special Stars biscuits for Asda, and got an order of 800,000 units, I remember Alan saying it was the launch of a mega product.
Fans may note that series seven was recently given a green light.
Rebecca Ferguson, runner-up to Matt Cardle in series seven of the STV talent show, admits she drew on those darker days for inspiration for her new album, Freedom.
Since the introduction of the wild card for the 1995 season, the winner of the AL East has gone on to capture the World Series seven times in 18 seasons.
Washington, Aug 6 ( ANI ): Formula One supremo Bernie Ecclestone's legal problems deepened after hundreds of documents relating to the sale of the motor racing series seven years ago, were ordered to be released by a London Court.
A spokeswoman for the show said: "Following an incident during filming that has led to a police enquiry into an alleged offence by a member of the cast, MTV and Lime Pictures have temporarily suspended filming of Geordie Shore series seven pending further enquiries.
Doctor Who: Series Seven, Part Two offers the second half of series seven telling of the Doctor's search for Clara, an 'impossible girl' who keeps dying and re-appearing in another form.
The actress, who plays Clara in the latest series, was speaking at the launch of the second half of series seven, which kicks off with a London-set episode entitled The Bells Of St John.
The seasonal episode will also introduce the new assistant, Clara - with fans champing at the bit to discover the circumstances around her introduction following a brief appearance in Asylum of the Daleks, early on in series seven.