Passed the Series 7!!!!

DCOURTS

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After a few months of studying, I finally took my Series 7 test today. As expected, I was pretty nervous about taking the test, but since I had spent so much time studying (3 months) I was ready to just get it off my back. I took it here in New York City (sooo cold today) at 9 a.m. and got out a little after 3. Yes that means its a 6 hour test. I thought that I would finish way under the 6 hours but instead I used just about all the time allowed. In the end I finished the test by passing with an 81% (you need a 70%) to pass.

For any of you who may not be familiar with the Series 7 test, its basically a test you take to be licensed to sell securities for a fee. That means in order to be a registered Financial Advisor or stock broker, you need this license. With all the turmoil going on in Wall Street, I really needed this license to keep myself afloat and to possibly obtain a better job. Of course, passing the test will get me a raise which is nice, what I really want is to get a better job (paying and role wise). Anyway, I guess thats it. If anyone else has any Series 7 experience I'd love to hear them. Or if anyone is thinking about taking the test, I would be more than happy to answer any questions.

Happy Holidays!
 
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GTSpartan

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Good job!

Now, don't become one of those Wall Street scumbags that got us in this current mess.
 

DCOURTS

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Thanks. Well fortunately I'm not on that side of the business. Instead, I deal with client's who got screwed and invested in shitty securities by scumbags who created them and made millions on them while everyone else lost half of their net worth investing in them. I will be advising clients on how to invest and how to avoid those scumbags. And as for boiler room, thats a terrible movie.
 

z11375ss

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I am in the pits in Chicago. Have been for 20 years now. Never needed a 7 so never got one. I hear it's pretty tough. Nice job, good for you.
 

crunchie12268

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After a few months of studying, I finally took my Series 7 test today. As expected, I was pretty nervous about taking the test, but since I had spent so much time studying (3 months) I was ready to just get it off my back. I took it here in New York City (sooo cold today) at 9 a.m. and got out a little after 3. Yes that means its a 6 hour test. I thought that I would finish way under the 6 hours but instead I used just about all the time allowed. In the end I finished the test by passing with an 81% (you need a 70%) to pass.

For any of you who may not be familiar with the Series 7 test, its basically a test you take to be licensed to sell securities for a fee. That means in order to be a registered Financial Advisor or stock broker, you need this license. With all the turmoil going on in Wall Street, I really needed this license to keep myself afloat and to possibly obtain a better job. Of course, passing the test will get me a raise which is nice, what I really want is to get a better job (paying and role wise). Anyway, I guess thats it. If anyone else has any Series 7 experience I'd love to hear them. Or if anyone is thinking about taking the test, I would be more than happy to answer any questions.

Happy Holidays!


Congrats! I will be taking a tedious test in the next few years (Professional Engineering Test) not looking forward to it.

Oh... almost forgot.... MERRY CHRISTMAS!!
 

Evan5469

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That is awesome news! Congratulations!

I actually will start studying for it as soon as my books arrive so I may be PMing you from time to time if you don't mind? Do you have any tips for someone who is just about to start?
 

DCOURTS

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Thanks everyone for the congrats.

Evan5469 - The first thing I would suggest doing is opening a window with the date you wish to take it. This gives you somewhat of a deadline for your studying. I found it extremely hard to study and prepare without knowing the actual date I would be taking the test. Second, establish a routine to study. Never be away from the books for more than 1 -2 days. I dont know how soon you are looking to take the test but pace yourself and dont rush it. Its not worth all the time and effort you put in to it by rushing and then not pass the test. No matter how long it takes you, you will definitely know when you are ready to take it. By establishing a routine, you will be able to tackle all aspects of the test. Practice taking the practice exams over and over again. Dont memorize the answers, understand the concepts. Lastly, know your options (derivatives) and especially everything there is to know about Municipals. My test was very heavy on Munis. If you have any other questions please feel free to ask.

Happy Holidays to everyone!
 

Coiled03

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Congrats! I will be taking a tedious test in the next few years (Professional Engineering Test) not looking forward to it.

Oh... almost forgot.... MERRY CHRISTMAS!!

You gonna take a refresher course? I need to get my PE, too, but I'm really not sure where to start other than signing up for refreshers.
 

vertcobra99

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cool man... congrats... I just passed the level two CFA exam this june. So I know your pain. CFA is a bitch. probably the hardest thing I have ever done. you may want to look into going for that next... its quite a bit harder then the series 7 though. They say 300 hours of studying for each test. I got by the first two with about 200 hours each and taking a prep class for each one.
 

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