This exam is administered by The Financial Industry Regulatory Authority (FINRA) and provides an individual with the qualifications necessary in order to make different types of trades with all types of corporate securities, except commodities and futures. It is also one of the steps necessary in order for a member firm associate to register with FINRA. The Series 7 exam must be passed in order to take many other principal exams offered by FINRA.
$305 USD. This includes a $110 examination enrollment fee, and a $90 NYSE development fee.
You must be sponsored by a FINRA member firm.
260 total. 125 for each part, and 10 pre-test questions that do not count towards the exam grade (and are not indicated in the exam).
Each candidate will be allowed 6 hours (the exam is broken into two parts, each has a time limit of 3 hours) to complete the examination. This time limit has been designed to provide enough time for all candidates to complete the exam. A score of 72% or higher is required to pass the Series 7 exam.