There, of course, is a fee associated with taking the series 7 exam. The serves to pay all the administrative fees that are associated with administering the exam. You can also look at it as additional incentive and motivation to pass.
In the majority of cases your sponsoring firm will be charged the fee. Once your financial employer sponsors you, they will pay for the exam itself and finger printing. Some firms will also go so far as to pay for study materials and test preparation courses.
There are some circumstances where you will required to pay the majority of the costs. It is all dependent on your particular sponsor.
Cost Information
Exam fee: $265
Breakdown of all fees: here
If you cancel your exam date after scheduling you may have to pay a fee. Here is the breakdown of cancellation fees:
- If you cancel or reschedule over two weeks in advance, there is no fee
- If you cancel or reschedule three to ten days in advance there is a fee of $132.50
- If you cancel or reschedule with less than three days away from your exam date, you will be charged the full $265
Although you can take the exam multiple times (must wait 30 days). The fee will have to be paid each time. So study up and pass the first time! Your sponsor will not be happy paying the fee twice, and they may even ask you to reimburse them if you fail.
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