Hey, I'm struggling with the exam. Failed it actually. Really not sure how I messed it up. I was so sure I was ready but the results proved different. Do you know where I can find a series 7 tutor? I am in the New York area. Thanks in advance, Chris
http://www.stcusa.com/ They teach the class, and I know for a fact you can hire a private tutor or get referrals. Just do the tests over and over and over and you will pass.
Remember...you need at least 100 hours of study time to be ready for the test. Spend 20 hours reading the STC series 7 material, and at least another 80 hours taking tests. I took about 40 or 50 practice tests (the 125 questions tests) and i passed my series 7 the first time. I got a 76%. Just take the practice tests until you get 85% or better on each test. Even though i got 76% i feel like i got lucky. When i was taking the practice tests I was getting as low as 72% on some of them so thats why i recommend getting 85% on all the tests so you are sure you will pass. Dont bother with the classroom or tutors. 40 hours in the classroom and they will still tell you to study another 80 hours at home. When i was first studying the material i felt like i needed a tutor too, but since im such a cheap skate, I just pushed as hard as i could and i am so proud that i did it on my own. You can do it bro, just study the STC book and do at least 80 to 100 hours worth of tests. (yes you will be sick of it after the first few weeks.) I got thru by doing two 125 question tests each day. 2 months later i took the test and passed. Good luck man
http://totalseries7.com/ebook.htm Tutor yourself with the above Ebook. It's got all a trader needs - just the nitty gritty to successfully pass the Series 7 exam (the first time). At only $24.99, the author probably gets more last minute crammers and exam retakers than the intended sole Ebook studiers. Spend the productive study hours it takes to absorb the well laid-out material, and repeatedly take the practice exams. Good luck.
If you read the material and do the practice exams you will pass. It does not take anywhere near 100 hours. It's really not a hard read. I probably spent no more than 20 hrs total. You need to have real grasp on bonds/options/fixed income. PS I used http://www.stcusa.com
I took the exam and failed today actually. I spent 3 months trading from home and studying, overall about 200 hours easily studying i'd say. I bought the textbook from Securities Institute of America and the exam simulator from Investopedia.com. WAs scoring 85-90 consistently for 3 weeks on practice exams, so I scheduled my test. Maybe and I mean maybe only about 20% of the stuff from investopedia's prac exams were on the real test. It's so disheartening to go from scoring in the 90's to failing the real test. Does anyone have a recommendation on a new study book or study guide or new online quizzer or anything? Jordan
Jordan: S.T.C. material is spot on. Back in the days of 1/8's and 1/4's I was getting 75-80 on the practice exams and got an 81 on the real McCoy. You need to just do the practice exams nonstop for 2 weeks and you will pass. I am talking 4 hours a day. surdo
Well Jordan how close were you to passing, was it a matter of a few questions or was it way off? I honestly don't think anyone needs 100 hours or more, this material isn't that difficult. There's a lot of content but cramming away will just overload your brain and you won't retain the finer points. I wrote the exam this halloween; i got a set of used books off ebay (2003 Pass Perfect Texts that i paid about $25 and I also picked up an audio CD from this year in case there was any outdated information in the texts) on Oct. 2nd, while working full-time up to the last few days before the exam - i passed with a 72%. Save the money on the courses and just pickup a dearborne or pass-perfect series 7 package, you'll do fine.
Thanks guys. Yea I work and manage money from home full time. I was moving to a desk just to get more leverage and purchasing power. I got a 54%. On options, customer accounts/recommendations, municipal securities i didnt get less than a 90% on any of those sections. I scored under 35% on all REITS, CMO, DDP parts. There was maybe 1 or 2 of those questions on my prac exams from investopedia and about 20-30 on the real exam. I dont know if it was just luck of the draw on questions or what but it sucks big time man.