FINRA /
Series
/ //
7 /
Exam
/ /
Outline
/ /
Exam Questions With Correct Answers
/ // // // //
FINRA //- //correct //answer(s) //✔✔ //Financial //Industry //Regulatory //Authority
Purpose /
/of /
/FINRA /
/Series //
7/
/exam //- /
/correct /
/answer(s) //✔✔ //"The //Series //7 //exam //is //designed //to //assess //the //competency //of //entry-
level //General //Securities //Representatives. //
The //Series //7 //exam //seeks //to //measure //the //degree //to //which //each //candidate //possesses //the
//knowledge, /
/skills /
/and /
/abilities /
/needed /
/to //perform //the //critical //functions //of //a //General //Securities //Registered //Representative. //
,In /
/order /
/to /
/obtain /
/registration /
/as //
a/
/General /
/Securities /
/Representative, /
/candidates //must //pass //both //the //Series //7 //exam //and //a //general //knowledge //co-
requisite, //the //Securities //Industry //Essentials //(SIE) //exam."
Length //of //Series //7 //Exam //- //correct //answer(s) //✔✔ //"The //exam //consists //of //125 //multiple-
choice /
/items, //and //each //item //consists //of //four //answer //choices." //There //are //an //additional //10 //pre-
test //questions //that //are //not //scored. //3 //hours //and //45 //minutes //to //take //exam
Types /
/of /
/questions /
/for /
/Series //
7 //Exam //- //correct //answer(s) //✔✔ //"Function //1: //(9 //Q's) //Seeks //Business //for //the //Broker-
Dealer //from
Customers //and //Potential //Customers
Function /
/2: /
/(11 /
/Q's) /
/Opens /
/Accounts /
/After //Obtaining //and //Evaluating //Customers' //Financial //Profile //and //Investment //Objectives
Function /
/3: /
,/(91 /
/Q's) /
/Provides /
/Customers /
/with /
/Information /
/About /
/Investments, /
/Makes //Suitable //Recommendations, //Transfers //Assets //and //Maintains //Appropriate //Records
Function /
/4: /
/(14 /
/Q's) /
/Obtains /
/and /
/Verifies /
/Customers' /
/Purchase /
/and /
/Sales //Instructions //and //Agreements; //Processes, //Completes //and //Confirms //Transactions"
What //is //the //meaning //of //Function //1: //Seeks //Business //for //the //Broker-
Dealer /
/from /
/Customers /
/and /
/Potential //Customers? //- //correct //answer(s) //✔✔ //"Contacts //current //and //potential //customers
//in /
/person /
/and /
/by /
/telephone, /
/mail /
/and /
/electronic /
/means; //develops //promotional //and //advertising //materials //and //seeks //appropriate //approvals
//to //distribute //marketing //materials"
, "Describes /
/investment //products //and //services //to //current //and //potential //customers //with //the //intent //of
//soliciting //business"
What //is //the //knowledge //of //Function //1: //Seeks //Business //for //the //Broker-
Dealer /
/from /
/Customers /
/and /
/Potential /
/Customers? //- /
/correct //answer(s) //✔✔ //"Standards //and //required //approvals //of //public //communications
•/
/Types /
/of /
/communications /
/(e.g., /
/retail, /
/institutional, //correspondence) //• //Seminars, //lectures //and //other //group //forum //requirements
• //Product //specific //advertisements //and //disclosures
° //Investment //company //products //and //variable //contracts
° //Options-related //communications; //options //disclosure //document //(ODD)
° //Municipal //securities
° //Research //reports //(e.g., //quiet //periods, //distribution, //third-party //research)
°/
/Government /
/securities, //collateralized //mortgage //obligations //(CMOs), //certificates //of //deposit //(CDs)"
"• /
/Process /
/for /
Series
/ //
7 /
Exam
/ /
Outline
/ /
Exam Questions With Correct Answers
/ // // // //
FINRA //- //correct //answer(s) //✔✔ //Financial //Industry //Regulatory //Authority
Purpose /
/of /
/FINRA /
/Series //
7/
/exam //- /
/correct /
/answer(s) //✔✔ //"The //Series //7 //exam //is //designed //to //assess //the //competency //of //entry-
level //General //Securities //Representatives. //
The //Series //7 //exam //seeks //to //measure //the //degree //to //which //each //candidate //possesses //the
//knowledge, /
/skills /
/and /
/abilities /
/needed /
/to //perform //the //critical //functions //of //a //General //Securities //Registered //Representative. //
,In /
/order /
/to /
/obtain /
/registration /
/as //
a/
/General /
/Securities /
/Representative, /
/candidates //must //pass //both //the //Series //7 //exam //and //a //general //knowledge //co-
requisite, //the //Securities //Industry //Essentials //(SIE) //exam."
Length //of //Series //7 //Exam //- //correct //answer(s) //✔✔ //"The //exam //consists //of //125 //multiple-
choice /
/items, //and //each //item //consists //of //four //answer //choices." //There //are //an //additional //10 //pre-
test //questions //that //are //not //scored. //3 //hours //and //45 //minutes //to //take //exam
Types /
/of /
/questions /
/for /
/Series //
7 //Exam //- //correct //answer(s) //✔✔ //"Function //1: //(9 //Q's) //Seeks //Business //for //the //Broker-
Dealer //from
Customers //and //Potential //Customers
Function /
/2: /
/(11 /
/Q's) /
/Opens /
/Accounts /
/After //Obtaining //and //Evaluating //Customers' //Financial //Profile //and //Investment //Objectives
Function /
/3: /
,/(91 /
/Q's) /
/Provides /
/Customers /
/with /
/Information /
/About /
/Investments, /
/Makes //Suitable //Recommendations, //Transfers //Assets //and //Maintains //Appropriate //Records
Function /
/4: /
/(14 /
/Q's) /
/Obtains /
/and /
/Verifies /
/Customers' /
/Purchase /
/and /
/Sales //Instructions //and //Agreements; //Processes, //Completes //and //Confirms //Transactions"
What //is //the //meaning //of //Function //1: //Seeks //Business //for //the //Broker-
Dealer /
/from /
/Customers /
/and /
/Potential //Customers? //- //correct //answer(s) //✔✔ //"Contacts //current //and //potential //customers
//in /
/person /
/and /
/by /
/telephone, /
/mail /
/and /
/electronic /
/means; //develops //promotional //and //advertising //materials //and //seeks //appropriate //approvals
//to //distribute //marketing //materials"
, "Describes /
/investment //products //and //services //to //current //and //potential //customers //with //the //intent //of
//soliciting //business"
What //is //the //knowledge //of //Function //1: //Seeks //Business //for //the //Broker-
Dealer /
/from /
/Customers /
/and /
/Potential /
/Customers? //- /
/correct //answer(s) //✔✔ //"Standards //and //required //approvals //of //public //communications
•/
/Types /
/of /
/communications /
/(e.g., /
/retail, /
/institutional, //correspondence) //• //Seminars, //lectures //and //other //group //forum //requirements
• //Product //specific //advertisements //and //disclosures
° //Investment //company //products //and //variable //contracts
° //Options-related //communications; //options //disclosure //document //(ODD)
° //Municipal //securities
° //Research //reports //(e.g., //quiet //periods, //distribution, //third-party //research)
°/
/Government /
/securities, //collateralized //mortgage //obligations //(CMOs), //certificates //of //deposit //(CDs)"
"• /
/Process /
/for /
