The better you have preparation; the more will be the chances to pass any exams. There is no doubt your preparation increases passing chances in exams.
However, all exams do not have the same difficulty level; some exams need more preparation than average.
Among some of the difficult exams series, 7 exams are also supposed to be hard to pass and require a lot of hard work and preparation to pass the exam.
Series 7 exam has a wider scope and can play a big breakthrough in your career, and you should appear for that exam.
Surely before setting the exam, a common question arises in everyone’s mind how difficult are the series 7 exams? Stay here to learn about the difficulty level.
What is the Series 7 Exam?
Series 7 exams are from the securities field; after passing that exam, one can work with individual or institutional investors to sell all securities.
The exam covers basic formulas but not very advanced math. Basic formulas that assist you in completing required calculations to make decisions for the securities, mostly there are regulations and laws. The candidate learns how to use those laws and regulations to perform their job.
It is one of the longest exams because you have 3 hours and 45 minutes to solve 125 MCQs from different course areas. You should attain a minimum of 72% to pass the series 7 exam.
How Hard Is It to Pass the Series 7 Exam?
You may hear from your friends Series 7 exam is very difficult because the passing percentage is only 65%. But it does not matter because it depends on several factors such as your previous work experience, qualifications, knowledge, and preparation style.
If you are new to that, it could be one of the toughest exams. Whether you are experienced or have previous knowledge if you do not take your preparations seriously, then there are more chances that you will fail because many skilled professionals could not pass the exam on the first attempt.
The series 7 exams include 125 questions divided into four sections; if you want to pass the exam, you should cover those areas to solve the questions.
- The first section covers 9 questions about finding and acquiring business from potential customers.
- The next 11 questions included in the exams are evaluating the customer’s financial profile and investment objectives, and the opening of an account.
- The third and most important section are providing the correct information about investments, transferring assets, recommendations, and maintaining excellent records. This section contains 91 questions that are 73% of the total exam, and candidates need more focus on that section.
- The fourth section contains 14 questions from obtaining and verifying the customers’ sales and purchase agreements and instructions, to completion, processing, and confirmation of transactions.
All the above four areas have a wider scope and need a lot of preparation to increase your success probability.
How Much Preparation Do I Need to Pass the Series 7 Exam?
If you have previous knowledge and practical experience, you can prepare for series 7 exams by studying 80 to 100 hours. But a new person minimum needs 150 hours of preparation before sitting in the exam to pass the exam.
What is Eligibility for Appearing in Series 7 Exams?
Before sitting in series 7 exams, one needs to get sponsorship from FINRA or a self-regulatory organization. You should have a job or internship with FINRA registered financial institution to get the sponsorship.
How Should I Prepare for Series 7 Exams?
There are many online and offline ways to prepare for series 7 exams. You can register yourself with any trusted or registered institute to prepare for the series 7 exams. But before choosing the institute, you should read its reviews and take feedback from friends or students to better understand the institution.
If you are looking for the best platform, you can also follow our recommendations and enrol in this series 7 video course to prepare yourself for the series 7 exam. You will get everything in detail about the covered topics, preparation, exam style, and style to attempt, and all relevant, helpful material.
Conclusion
Series 7 exams are very difficult because the success ratio is just 65%, but your success rate could increase if you get better prepared.
The best way to prepare for the Series 7 exams is to enrol with a registered institute to prepare for series 7 courses. You can easily pass the series 7 exam by preparing under the supervision of experts.