Hey guys, Im a newbie to the whole market and financial word of business and Im taking the series 7 and 66 in a couple of weeks, and I have been studying. Although, I have noticed through these practice exams that I have purchased through STC, that a real financial mindset is needed for comprehending some of this stuff. Is there any tips any of you who are in the business can give me or key areas I can focus in on for the exam so I can develop that mindset? which should help me do a lot better on the exam. I really like the stuff, its just that it is so new to me, I am not comfortable with it. Any advice,tips, or anything would be helpful. Also, how do you feel about using STC for primary study materials? Thanks, Salz
me too, study tips and focus areas to concentrate on would be REALLY helpful to me as well...thanks in advance....
Read each of the posts in the thread below for study tips and focus areas. If you have no prior experience in the financial markets and trading - the true center of the Universe - then you may find it helpful to utilize more than one study aid to more easily grasp the test topics. Take a look at STC's video and DVD list for those ET'er-recommended subjects on which to concentrate, if you think they would be of additional benefit to your S-7 exam prep manual: http://www.elitetrader.com/vb/showthread.php?s=&postid=769597#post769597 Now that you're down to crunch time, don't get sidetracked and bushwacked by that Series 7 exam-taking urban legend. Good luck to you both.
The series 7 exam is essentially a reading comprehension test. Most of it has no application to trading either. Just read it all thoroughly, take notes and do the practice exams over and over. Pay particular attention to municipal bonds and options, the two largest segments of the test.
I was an undergraduate pre-med student and had zero "financial Minsdet". I passed it the first time. It's indeed a reading comp. test, as the OP said. Memorize the S.T.C. practice tests and do not not waste your time studying anything else.
I have to agree with the STC practice tests only approach. I started reading the million page manual ( not that long but seemed like it ) and ignored advice to just take the practice tests and you'll be fine. After about 7 chapters I gave up and just spent a month and a half just doing all the questions in the practice tests over and over and over and over. I scored an 85% on the first try by just doing the practice tests repeatedly. You only need a 70% to pass. I was a copy editor for a magazine in my previous life with no financial background other than investing. Good luck.
Salz, Traders, like me, in the market really want guys like you in there making trades because some institutional firm looks at your Series 7 and 66 then puts you in charge of trading their money! See yah in the market, if you know what I mean....
Go to dearborn.com and get the drill and practice series 7 cd. It has a database of over 2,000 questions that it uses to generate practice exams. Extremely helpful, some questions are even repeated on the real test.
Well, I appreciate all of you replying about the 7 and 66. I just got back today from the promissor and failed my LAH health exams so to come back here today and find that bonds and options are the key areas I need to focus on for the 7 really helps. Also the fact that I can start going through the practice tests from STC to really start getting a grasp on things. I dont think I want to try Dearborn because I have had enough trouble with them for LAH, but i appreciate the suggestion. Skal, Im sure that you are very good at what you do but, I gotta get a start somewhere. Any tips that you could give me to offer good financial advice will be welcome, and yess I will see you in the market haha. Now for the 7, options and municipal bonds are areas I need to focus, I need to read from STC? or will I gain a better understanding just from the practice tests. I like the www.cboe.com for some options stuff, better visuals. Btw any of you financial adviders? Thanks again guys, keep the tips commin, SalZ
Read the STC manual on every topic; and do all practice tests, over and over. Did you read the first page of the study manual Intro? You might want to re-read the first few pragraphs... "... taking the series 7 and 66 in a couple of weeks...", you say?... http://www.elitetrader.com/vb/showthread.php?s=&postid=325549#post325549