In this YouTube video, Knopman Marks Financial Training discusses the Series 7 exam and what to expect on test day. The Series 7 exam is one of many exams to pass to work as a broker in the securities industry.
The test is comprehensive and takes around six hours to complete. A person is required to know the overview of the materials along with the minute details. It’s important to be psychologically ready for the test.
On the day of the test, arrive 20-30 minutes early. All the items a candidate brings, such as notes, textbooks, purses, food, and drink, all get locked into a locker. The candidate will need their valid photo identification and will pass through a security screening.
The exam is administered in three two-hour sections. The candidate is provided with a writing utensil, some scratch paper, and a four-function calculator. All questions start with basic concepts and then progress into more difficult ones before ending with easier ones. Taking an unscheduled break after 90 minutes can allow the candidate a moment to regain their grounding and increase blood flow in the body. If a candidate runs out of time, each question should be answered, even if the candidate must guess.
FNRA exam sponsorships provide various resources to help a candidate pass this exam. Resources include a solid textbook, a classroom for learning, and practice tests. .