Here is a breakdown of the types of questions you will be asked on the Series 7 Exam. Information comes straight from FINRA’s handbook. For actual examples of exam questions go here.
By understanding what type of questions you will see on the exam, you will be able to study better by focusing on certain areas. Many of the questions are concentrated into only a few sections, so you should spend the most time studying these sections. Studying efficiently will help you make the best use of your time.
Numbers correspond to the pie chart.
1) Seeks business for the broker-dealer through customers and potential customers 9 questions
2) Evaluates customers in terms of financial needs, current holdings, and available investment capital, and helps them identify their investment objectives 4 Questions
3) Provides customers and prospective customers with information on investments and makes suitable recommendations 123 Questions
4) Opens, transfers, and closes customer accounts and maintains appropriate account records 27 Questions
5) Explains the organization, participants, and functions of various securities markets and the principal factors that affect them 53 Questions
6) Obtains and verifies the customer’s purchase and sale instructions, enters orders, and follows up on completion of transactions 13 Questions
7) Monitors the customer’ s portfolio and makes recommendations consistent with changes in economic and financial conditions as well as the customer’s needs and objective 21 Questions
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