Do I have to retake the series 7 exam?

Discussion in 'Professional Trading' started by cubical, Mar 19, 2011.

  1. cubical


    I was with a prop firm for 2 years, I left last Nov. Will I have to retake the exam or will I be able to simply take the "renew" test. Thanks guys.
  2. If your firm registered you than you should be ok as the FINRA threshold is 3 years. Make sure though the prop firm was actually hanging your license, if they weren't than the 3 year time frame goes back to the last firm that held it.
  3. cubical


    I have only worked at 1 firm. How are the maintenance tests? I have heard you can't really even study for them.
  4. It's important to note that even though you were at the firm, they may not have necessarily kept your 7 with Finra in their name (there is a cost for that) You should be able to call Finra and they should have that info.

    The continuing education exams you need to take are a take the test, they tell you which questions you need to correct, you correct them and walk out. :)
  5. Dont make the mistake I did...When you leave a firm, it expires after 2 years, not 3. I remember this because I wanted to keep my license and not take the test again so I started doing my inquiries a few months before my 3rd year...then I found out it expired after the 2nd year and I would have to take the test over again. DOH.
  6. whoa, my apologies, I think you are correct on the 2 year frame and not's been a while. :)