Best Series 7 Test Prep
Providers 2024

The overall Series 7 pass rate is approximately 72%. However, candidates who use structured test prep courses typically see pass rates of 90-95%. First-time test takers with proper preparation have significantly higher success rates than those who attempt the exam without formal study materials.

Yes, you must be sponsored by a FINRA member firm to register for the Series 7 exam. This means you need to be employed by or associated with a broker-dealer. You cannot take the exam as an individual without firm sponsorship. Most employers will provide study materials or reimburse you for prep courses.

The Series 7 covers four main areas: Seeks Business for the Broker-Dealer (9%), Opens Accounts (10%), Provides Customers with Investment Information (71%), and Obtains and Verifies Orders (10%). The largest section focuses on investment products including stocks, bonds, options, mutual funds, and retirement planning.

Yes, you can retake the Series 7 exam. If you fail, you must wait 30 days before your second attempt. After a second failure, you must wait 30 days for a third attempt. If you fail three times, you must wait 180 days before taking the exam again. Your firm sponsorship must remain active throughout this process.

As of October 2018, candidates must pass the Securities Industry Essentials (SIE) exam before taking the Series 7. The SIE covers basic securities industry knowledge and can be taken without firm sponsorship. This change was made to allow candidates to demonstrate fundamental knowledge before seeking employment.