These were the two sections that I missed the most, and I was one question off a pass. Would anyone be able to tell me what chapters from the textbook I should focus on for these Sections?
Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives
Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes, and Confirms Transactions
Hi @Ella_Mohr, it’s frustrating to be so close, but you’ll get it next time!
We’ve listed out the mappings in this post:
Thanks for the reply! I really have found it helpful using this course as I had no prior Financial Experience before this.
I passed Series 7 Friday. The exam was pretty unfathomable at first glance and lots of topics I felt less than comfortable with. I assumed early I was not going to pass, first question was balance sheet math which I had not really mastered. Exam went from there, lots of tax, bond pricing, customer accounts, options, and recommendations. So, I just went with it, read every single question carefully assuming I would have to just figure it out and somehow it worked. I think the point about understanding broad concepts and how it fits together is what got me through. I was forced to read, read again, read the question stem, and THINK about what made sense. I didn’t feel at any point I just knew the answer.
I am a history grad who worked in TV for 10 years so I get the no financial background thing. My advice is don’t be afraid of anything on the test, if you “get it” broadly (which you can gather by how you work through the chapters and quiz scores based on reading material) you can pass. I promise.
I felt I understood it broadly apart from taxes and brokerage accounts, specifically margin. I did a quick review of those final week and still didn’t get much above 70, sometimes less, but I had some vague idea I could call on in the exam. Both were heavily tested on my exam and I found a way to work it out. I studied for a month, took SIE late Nov.
Did you only use Achievable to study? I used STC for the SIE exam and I passed, however I felt the study material in the textbook through STC was too much to take in so I switched to Achievable.
Only achievable and exactly a month while also working. I think the stress we create in our heads about the Series 7 is far worse than the reality. Do achievable chapters, be honest about how much you actually understand and if you understand don’t overthink the rest, just press on.
@Lillian_Feeney I disagree somewhat.
Since nobody really knows what test questions the testbank will draw in that FINRA test, it’s just best to be overprepared…
@Lillian_Feeney no offense, but firms that preach this approach really care about their own interests, not yours. They want people to move through their training programs like cattle, that’s why they tell you NOT to shoot for a 100%.
It’s not true. Try and fully understand the concepts thoroughly to be successful on the Series 7. Because at the end of the day, that’s what they’re testing for. They’re testing to see if you UNDERSTAND this stuff, not if you can memorize it. And FINRA is mighty good at it too.
Not offended at all. We agree on understanding the concepts. I did that and then went into exam expecting nothing in particular and rolled with it. The reality is I had just moved to the US, was living insecurely and had four weeks to get the 7 done.
I have no financial background, my math is probably worse than the average 8 yo kid and I was limited in how I could prepare. So yes, over prepare if you can, but if you can’t then just make sure you really understand how it all hangs together. Then revisit the topics you are not so good at until conceptually they make sense.