What is the best way to prepare for the Series 7. I've taken a corporate finance class so the fixed income and option straddles aren't completely foreign to me. I just got two gigantic binders with Series 7 material from my prop firm I will be starting with in June. I won't be taking the test for another 1 - 1.5 months. Are there any other books are software that can allow me to bypass these gigantic binders of bland material and maximize my time efficiency. Any suggestions are welcome. Thanks for the help fellas.
I started a thread last year when I was preparing for series 7 asking for some tips. You may find it useful.. http://www.elitetrader.com/vb/showthread.php?s=&threadid=21915&perpage=6&pagenumber=1
Take the STC week long course from 8AM - 3PM. Make sure that you read the chapters before you attend class. There are about 24 of them. Then, make sure that you take all of the Practice Exams ( about 13 of them in the back of the binder ). These are absolutely "key" to you passing the exam. Start now, because you need to study as if you are taking a major final exam. Believe me, this is not a 6 hour exam that you want to fail, and then have to take over again!
Hey, I took mine not long ago and what I suggest is getting an exam simulation study course (on software). It simulates the exam environment (the test is taken on computer so you should practice and learn on the computer) I found it allot more usefull than the texts. The questions in the software bank were very similar to the ones on the actual exam, whereas in retrospect, the material in my texts was almost useless.
The exam is basically broken down into 10 sections. Section Weight Debt 20% Options 16 Regulations 16 Customer Accounts 10 Trading Markets 8 Investments Companies 8 Taxes & Tax Shelters 6 Analysis 6 New Issues 6 Equities 4 Debt, Options, and Regulations represent about 50% of all exam questions. You must know these topics cold. Study these topics first. Analysis might have 1 or 2 questions but alot of study time is required if the material is unfamiliar. Save this section for last. Skip it if you have no time left. I don't remember seeing much on tax or tax shelters, but this section is easy with a basic tax backround. Personally, I had six weeks to study. I first read all the material and then used the computerized data bank questions to practice and test my knowledge. At six weeks, I would take the first four weeks and study the written material and then practice test taking for the other 2 weeks. None of this material is hard. The challenge lies in the amount of material tested. Be prepared. It's an exam you don't want to take again!!! Good Luck!!! Regards, Dave Scott
Get the Dearborn training CDROM. They have hundreds of drill questions arranged into subjects, plus simulated full exams. When I took my S7 I used this cd, the arrangement of questions into subjects was priceless. Many of the questions appear in the actual exam word for word too. Got a result of 91%.... can you beat that nigga? Good luck 50 Cent
91%..........................50?????????????? That is awesome!!! Cuz that was one of the hardest things I ever did and would never want to do it again. Highlander..................waggie hit the nail right on the head!!
That was my breakdown (in the score card): Section - Score range 1 The RR and the Customer 76%-85% 2 Brokerage products above 90% 3 Derivative products above 90% 4 Handling costumer accounts 76%-85% 5 Regulation above 90% 6 Order entry, confirmation and settlement above 90% 7 Factors affecting security value and investment decisions above 90%
Damnnnnnnnnnnnnnnn NIGGA would ya go back and pull out the test results................or you got this crap memorized???????????LOL Now me and my 78% feel like crap Hey passing is passing WTG 50