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FINRA Series 7 Exam Outline Study Guide
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FINRA Series 7 Exam Outline Study Guide FINRA - Answer️️ -Financial Industry Regulatory Authority Purpose of FINRA Series 7 exam - Answer️️ -"The Series 7 exam is designed to assess the competency of entry-level General Securities Representatives. The Series 7 exam seeks to measure the...

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  • September 25, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

FINRA Series 7 Exam Outline Study
Guide


FINRA - Answer✔️✔️-Financial Industry Regulatory Authority


Purpose of FINRA Series 7 exam - Answer✔️✔️-"The Series 7 exam is designed to

assess the competency of entry-level General Securities Representatives.



The Series 7 exam seeks to measure the degree to which each candidate possesses

the knowledge, skills and abilities needed to perform the critical functions of a General

Securities Registered Representative.



In order to obtain registration as a General Securities Representative, candidates must

pass both the Series 7 exam and a general knowledge co-requisite, the Securities

Industry Essentials (SIE) exam."

Length of Series 7 Exam - Answer✔️✔️-"The exam consists of 125 multiple-choice items,

and each item consists of four answer choices." There are an additional 10 pre-test

questions that are not scored. 3 hours and 45 minutes to take exam

Types of questions for Series 7 Exam - Answer✔️✔️-"Function 1: (9 Q's) Seeks Business

for the Broker-Dealer from


1/29

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Customers and Potential Customers

Function 2: (11 Q's) Opens Accounts After Obtaining and Evaluating Customers'

Financial Profile and Investment Objectives

Function 3: (91 Q's) Provides Customers with Information About Investments, Makes

Suitable Recommendations, Transfers Assets and Maintains Appropriate Records

Function 4: (14 Q's) Obtains and Verifies Customers' Purchase and Sales Instructions

and Agreements; Processes, Completes and Confirms Transactions"

What is the meaning of Function 1: Seeks Business for the Broker-Dealer from

Customers and Potential Customers? - Answer✔️✔️-"Contacts current and potential

customers in person and by telephone, mail and electronic means; develops

promotional and advertising materials and seeks appropriate approvals to distribute

marketing materials"



"Describes investment products and services to current and potential customers with

the intent of soliciting business"

What is the knowledge of Function 1: Seeks Business for the Broker-Dealer from

Customers and Potential Customers? - Answer✔️✔️-"Standards and required approvals

of public communications

• Types of communications (e.g., retail, institutional, correspondence) • Seminars,

lectures and other group forum requirements

• Product specific advertisements and disclosures


2/29

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
° Investment company products and variable contracts

° Options-related communications; options disclosure document (ODD)

° Municipal securities

° Research reports (e.g., quiet periods, distribution, third-party research)

° Government securities, collateralized mortgage obligations (CMOs), certificates of

deposit (CDs)"



"• Process for bringing new issues to market (e.g., due diligence, registration statement,

preliminary prospectus, final prospectus, underwriting agreement, selling group

agreement, blue-sky laws and procedures)

• Regulatory requirements for initial public offerings (IPOs) (e.g., restrictions on

prospecting or soliciting, allowable communications with the public)

• Primary financing for municipal securities (e.g., competitive sale, negotiated sale,

private offering, advance refunding)

• Syndicate formation and operational procedures (e.g., purpose of syndicate bid, roles

and responsibilities of underwriters, selling group concession and reallowance)

• Pricing practices and components of underwriters' spread and determination of

underwriters' compensation and selling practices

• Prospectus requirements (e.g., timeliness of information, preliminary prospectus (red

herring), final prospectus)

• Information required in a registration statement and offering material on new issue

(e.g., in pre-filing period, in cooling-off period, in post-registration period)
3/29

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