I have done an extensive internet search and found nothing to go on, so I thought I'd throw up the question here. I earned my series 7 license in 2007 but it lapsed in '09(my prop firm changed structure while I was there and no longer offered CE, so I was SOL). Now I'm joining a new firm and have to re-take the exam. Already tried to get a waiver- no-go. Big surprise, traders not eligible for a waiver, right? Now I'm wondering, what has changed on the test/study materials in the last 4 years? I realize it may be tough to find someone who knows- the best I have done so far is find the changes in the outline, but they were vague and include hundreds of rules that maybe only had a random word changed. Is there a resource for the updates? I got nowhere talking to FINRA today but will try again tomorrow. I still have my old kaplan book and CD. Only missed two questions the first time I took the exam four years ago, some of the debt securities stuff I had to review but otherwise I'm still testing high on the old materials. Surely 20%+ of the test hasn't changed, right? If my memory serves me right the 2007 test still lacked any mention of the Graham-Leach-Bliley Act even. Any help/tips will be appreciated!
Try to get ur new firm to re-registar your 7, I belive it can be done for up to 5 years. My 7 expired to long to do it.
That was the waiver I mentioned. They tried, even included a letter from me and a recommendation letter, but FINRA denied it. I believe they have tightened up. When my previous firm proposed their changes I spoke with FINRA about it and they said I would have no problem even if I waited a few years to re-associate. That was just over two years ago though.
i can only speculate but i can't be too wrong about this. the exams don't change much. the new questions need to be tested on a large pool of participants first before they exam builders know the strength of those questions, etc. if there are new rules a couple of those will be thrown but it can't be a huge change. IMO unless you aim to again only miss 2-3 questions, there is no need for a new textbook since the test if Fail/Pass. to be safe you could invest ~$20-30 in a recent textbook with a practice test and see what you score on it.
Cool, thanks for the help. That was kinda what I was thinking but I was wary of assuming so without some supporting opinions. I'm going to keep practice testing on the CD to reassure myself of my memory but I'm glad that should be sufficient. Confidence is the only way to go in to a test IMO.