Passed Series 7 :)

Did my SIE using Achievable almost exactly a month ago and enjoyed using the materials so decided to use for the Series 7.

After 3 weeks I had completed the textbook, getting 90+% on every quiz and reviews. I then booked my test a week later and started doing practice exams, getting 94-99% on the two “Final Exams” and another 7 full exams.

Given my high scores I decided to supplement with Kaplan Qbank which I borrowed from a colleague and got 78-88% over 5 exams (most of the ones I got wrong were the ones where the content hadn’t been taught by Achievable).

Today was exam day and I did a final Achievable review, Achievable practice exam and Kaplan practice exam. I also listened to the Series 7 in 60 minutes YouTube video by Series7Guru.

The exam itself was challenging. The way the questions were phrased was much closer to Kaplan than Achievable, but I felt a strong depth of understanding had been built by the Achievable materials.

Most of it was options (some calcs, but also intuitively understanding), municipal bonds and lots of suitability questions. Then quite a few questions where I had not learned the topic from the Achievable materials (and guessed/used logic) and there were some questions that would combine two or three topics that would have been two to three separate questions on Achievable, but then you had to figure out which topic was most relevant (and which must be ignored) to get the right answer.

I’d been focusing on reducing my times on practice exams on both Achievable (fastest was 30 minutes) and Kaplan (fastest was 60 minutes), so that I had ample time to do a full check with still 90 minutes to spare when I pressed Exit.

In summary, really enjoyed using the Achievable materials and process. But I think if I hadn’t done the 5 Kaplan tests I would have been shocked at the question wording and difficulty.

Many thanks and best of luck to all who read this on their exams!

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Congratulations on passing the 7 Melvin! Thats a huge accomplishment. Im sure I have to take the 7 in due time, and your post really gave me some insight on how I should approach preparing for the 7.

My only question is, how much knowledge did you have before going into the 7, and have you passed other licensing exams other than the SIE? I am very new to testing, and just finished the 63, but haven’t finished the SIE or 65, nor do I have practical experience. So I am wondering how to best adapt your advice to my own experience.

Would appreciate any advice you can give!

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Congrats on passing your S7, and thanks for letting us know!

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@Melvin_Beier - which program would you say teaches Options most relevant to the actual exam best? I use Pass Perfect as my firm requires me to, but I personally bought Achievable and Kaplan as backups for questions and content. Pass Perfect is horrible at teaching options; I feel weakest on them.

I TEST FRIDAY!

I liked Achievable’s way of teaching it, but I tended to also just memorise the formulas and solve for max gain, max loss, B/E or actual gain/loss

i.e. Short stock and long call
(Entry price - share price) + Premium - (Share Price - Strike Price)

You can see the two share prices cancel each other out

I am from the United Kingdom so almost none of the information in the SIE or Series 7 was intuitive to me not having grown up in the US. That said, I have 9 years finance experience and have dabbled in options and stocks. Municipals were a whole new world for me!

I am doing the Series 24 Principal exam next - wish me luck!

Kristina, go look up the options lecture by Series 7 Guru on YouTube! It may help to have a video lecture and Dean does a good job of breaking things down and making it easier to understand.

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