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Series 7 Exam 2022-2023 For Dummies



Series 7 Exam 2022-2023 For Dummies PDF

Author: Steven M. Rice

Publisher: For Dummies

Genres:

Publish Date: June 2, 2021

ISBN-10: 1119796830

Pages: 480

File Type: PDF

Language: English

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Book Preface

So you want to be a stockbroker? The good news is that a career in the securities field can be extremely lucrative and rewarding. The not-sogood news is that anyone who plans to become a stockbroker and sell securities in any of the 50 states must first pass the Series 7 exam, which is no joke. And to accomplish this, you have to commit time and effort.
I passed the Series 7 exam (back when 250 questions counted toward your score) the first time with a very high score, but it required weeks of study and sacrifice. Those who aren’t totally prepared on exam day are in for an unpleasant wake-up call. I always get a few students in every class who’ve enrolled after they already failed the exam the first (or second) time they took it. Most of them initially expected the same easy ride that they’d experienced in high school or college. Not only were they wrong, but they also had to pay hundreds of dollars to reregister for the exam and wait another 30 days (a mandatory FINRA rule) before they could retake the exam.

Back to the good news again. You’re obviously interested in doing well, so you probably won’t be one of those people. This book can help you pass the Series 7 and achieve your goal.

About This Book

This book should be all you need to pass the exam, although I certainly encourage you to view other materials and take whatever exams you can get your hands on.
I cover the topics that appear on the test, offer formulas, provide definitions, and go over the foundational information you need to know.
I also include lots of tips and a few memory tricks. But the real benefit of this book is finding out how to study and think through problems as well as you possibly can. That’s why I help you choose a study program, explain how to handle specific question types, warn you about common mistakes, connect concepts, and show you how to pull questions apart and get to the bottom of what’s being asked. You then get to apply this knowledge in two full-length practice tests so you get a taste of the
Series 7 experience.

This is a reference book, and most sections are self-contained. In other words, you can read a section and understand it without looking over the text that comes before it. When some background information is helpful, I give cross-references to related topics. Therefore, you can pretty much jump in and out whenever you find topics you like (and when you find those you don’t). And like all good tour guides, I also point you to some other sites of interest — topics you can explore further on your own.

I’ve scattered sample questions throughout this book so you can test your understanding of new info and get a feel for Series 7 exam questions. I’ve also added a quiz and detailed answer explanations at the end of each chapter in Parts 2, 3, and 4 (which cover the subject matter of the exam). And of course, for those sections that don’t include questions, remember that the practice tests that come with this book deal with all kinds of subjects.

I also use the language and lingo of FINRA. That means you see official names (like the Federal Reserve Board), nicknames (the Fed), and acronyms galore (like the FRB). That way, during the test, understanding the POPs, YTMs, TEYs, NAVs, EPSs, ADRs, LMVs, DRs, and so on,
shouldn’t be too much of a hassle.
If you’re short on time, you can skip the sidebars, which are those little gray boxes that contain interesting but nonessential information.

Foolish Assumptions
While writing this book, I made a few assumptions about you and why you picked up this book. For starters, I assume that you’re looking for a no-nonsense study guide that provides you with the meat and potatoes you need to pass the Series 7 along with a ton of example questions and some sample exams. Well, look no further! Whether you’re preparing to take the test for the first time, retaking the test after a less-than-stellar


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