Anyone know where I could get a better deal than paying the $1,040 quoted to me by Quest for sponsorship of my S7?? TIA. -momo
I don't know where you live, but check your phone book for "Clearing Firms". Here in Dallas we have "Southwest Securities" They're a clearing firm for several brokerages. Just ask them about sponsoring you for the exam. You can find series 7 study materials at your local bookstores and the library.
what do you mean by buying your series 7 sponsorship? I am very interested in this as well...do you have a URL for QUEST capital...I visited one quest capital site and couldnt' find the info... Anyone else reading this: please help...I am prepared to take the series 7 --I studied and was layed off before I could take it-I am willing to pay for all related expenses and this service...any reccomendations/suggestings as to how I could accomplish this? I would also like to do this with other exams to make me a more marketable hire as I am now searching for a job....without any licenses! again, please help... Mr. Hood
Why the hugh cost. While I don't know the cost of the test itself I did not think it costs THAT much. I sure hope not as I too am studying for the test. Are there not some prop firms that will sponser you for free(beyond the test cost) like Echo or Bright??
below is the restatement of the above message that started my thread: I live in San Francisco. I can get the books and study material from Dearborn. $249.00 for 12th edition S7 book plus all the variations of all final tests and answers on CD-ROM. Thats not a problem. However, in order to take the test, I of course need sponsorship by a clear housing, I-Bank, boutique Invest. serv. office, whatever... I'm simply trying to find out who, like Quest is willing to sponsor an individual and only asking say. . . $500 or at least 10% off the 1K+ figure I was quoted. I don't care where in the USA they are located so long as they can set me up with a testing cented here in CA. That was the idea. I didn't do a good job explaining. I'm sure someone on this board can point us in the right direction. Especially considering that we have quite a few veteran traders that post regularly to this board. It was my hope that since there are a few Prop shoppes here in S.F. that one would be willing to sponsor me to take the test for a token fee. Hood- in the meantime here is the info in QUEST Capital Investments, Inc. call them at 1.800.822.2280. They always post an ad in Investor's Business Daily. -momo
what you are speaking of is considered a regulatory violation by the NASD. They do not like companies claiming reps as employees for this purpose. Be careful... you do not want to get registered and then have a permanent mark on your NASD record that prohibits you from getting hired. But... you certainly have my best wishes.... I do not believe people should need sponsorship for entry registration, nor the CFA exam.
I went thru quest myself. Took the seven in april of this year and passed. It was several prop firms that suggested quest. There is no problem with that. Remember after passing, I (you) have no obligation to quest at all. I (you) pay 39.00 a month as a maintenance fee. The other cheaper sponsership places I heard of, you had some kind of obligation to them after passing. By getting the seven on my own I have two prop co.s that I am actively interviewing with. At one you only need the 7 at the other I would have to take the 55 but that would be thru them. Good luck.
I guess I'm missing something here. Why would you even want to go through the hassle of the Series 7 if there's not a firm you want to be affiliated with???
I can now trade at home with 10:1 margin, I can short a stock under 5.00 from home too (only licensed can short the 5 and under) There are a whole list of advantages to having gotten my license even if I never prop. Even if I let it expire I can get the 10 to 1, but only thru generic trading that I know of. Kind of a loophole, somthing to do with them and the philly exchange allows this. They are the only firm I know of also that you only need the 7, again something with the philly xchange. Always do your homework though cause what I learned 6 months ago could very easily be different today for someone new.