The Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. I also have a Ph.D. in English and have written more than 4,000 articles for regional and national publications. Please carefully review the information provided in this section to ensure eligibility. As close as a workaround comes - and it's not exactly illegal, although it's frowned upon - is if you've left a firm in good standing and on good terms. It is the scheduler's responsibility to ensure that appointments do not overlap. FINRA IS A REGISTERED TRADEMARK OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FINRA operates the largest securities dispute resolution forum in the United States, Report a concern about FINRA at 888-700-0028. A Registered Investment Adviser, on the other hand, has a fiduciary responsibility. If a candidate needs to reschedule or cancel their qualification exam appointment, they must do so in a timely manner according to the reschedule/cancellation policy. A company with a low PE ratio means that the earnings per share (EPS) are high compared to its price. Persons who take the Series 66 Exam must also pass the Series 7 Exam prior to registering with their state’s regulatory commission. Fundamental analysts examine the specifics of corporations and are responsible for doing the research and recommending which securities the registered reps should promote. FINRA and NASAA encourage firms and candidates to utilize a combination of online testing as well as testing at an available local test center. name and FINRA ID# (CRD # or Assigned "T" or "U" ID), phone number where the candidate or your firm can be reached, and, the name of the exam or its identifying series ID (. For additional information on rescheduling, refunds and other related impacts, visit Prometric's COVID-19 FAQs. If so, so did you have any surprises when you sat for the exam? Quick assets are convertible into cash within a three- to five-month period. STAY CONNECTED As close as a workaround comes - and it's not exactly illegal, although it's frowned upon - is if you've left a firm in good standing and on good terms. Typically, they’ll compare the PE ratios of several different companies within the same industry to see whether there’s a good investment opportunity. Distributing PDFs or similar Electronic Content, Press J to jump to the feed. The Series 66 exam has a similar requirement. Each question includes a detailed explanation of the correct answer. Press question mark to learn the rest of the keyboard shortcuts. Currently, the Securities Industry Essentials (SIE), Series 6, Series 7, Series 63, Series 65, and Series 66 exams are available for online test delivery to candidates with open enrollment windows. For the most up-to-date information about test center availability and COVID-19 impacts, please visit the Prometric website. By using our Services or clicking I agree, you agree to our use of cookies. As above, candidates must also pass the SIE exam to be registered with the Series 7. [4], As of October 1, 2018, the registration cost is $245. It would be nice if there were a work-around, but there really isn't. It is possible for a candidate to schedule two different exams on the same day or on different days. Candidates have to score at least 72 percent to pass. It would be nice if there were a work-around, but there really isn't. Please see the complete message for more information. B. gross income + depreciation + depletion, D. gross income – depletion + depreciation, Answer: C. net income + depreciation + depletion. The Series 7 exam, also known as the General Securities Representative Exam (GSRE), is a test for entry-level registered representatives. Cash flow is determined by taking the net income (after-tax income) and adding back in the depreciation and depletion deductions (if any). If you've left a broker-dealer firm and you want to remain active in the industry, your best available alternative is to pass the Series 65 Registered Investment Adviser exam. With that, you can either work with another RIA firm or set up your own business. Call the FINRA Support Team at (240) 386-4040. To report on abuse or fraud in the industry, FinPro (The Financial Professional Gateway), Securities Industry Essentials Exam (SIE), Financial Industry Networking Directory (FIND). We welcome students, current Registered Representatives and anyone who is curious. As close as a workaround comes - and it's not exactly illegal, although it's frowned upon - is if you've left a firm in good standing and on good terms. As a registered rep, you’ll also be responsible for examining your customers’ portfolios to help them keep in line with their investment objectives. In an increasingly regulated U.S. economy, licenses are required to do many things that a few generations ago no one would have thought required government regulation. Individuals who pass the Series 7 examination are eligible to register to trade all securities products, including corporate securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts. Investopedia: Breaking Down Financial Securities Licenses. Need Help? For interested readers who've never had the pleasure of taking the Series 7 exam: it's fairly grueling and, once you've passed it, you can do the kinds of things your broker does - in fact, your broker must have a Series 7 License to handle your account. Actually, the lower the PE ratio, the better. Current assets (assets convertible into cash within a one-year period) include inventory, marketable securities held by the corporation, cash, and so on. online testing technical resources page for firms. Can I Use My CPA Title If My License Is Inactive? Cash flow helps measure the financial health of a company. Changes to the Series 7 Exam. Contact FINRA at 301-590-6500. Unfortunately, you cannot. The Financial Industry Regulatory Authority (FINRA) administers the Series 7 examination. File a complaint about fraud or unfair practices.