Series 7 Exam Overview & Requirements
Everything you need to know about the General Securities Representative Exam, including eligibility requirements, exam format, and registration process.
125
Questions
125
Multiple choice questions covering four major function areas: Seeks Business for the Broker-Dealer, Opens Customer Accounts, Provides Customers with Investment Information, and Obtains and Verifies Customer Purchase and Sales Instructions.
225
Minutes
225
Total time allocated for the Series 7 exam, which equals 3 hours and 45 minutes. Time management is crucial as this averages to approximately 1.8 minutes per question.
72%
Pass Score
72%
Minimum passing score required on the Series 7 exam. You must answer at least 90 out of 125 questions correctly to pass and receive your FINRA registration.
$245
Exam Fee
$245
Current FINRA exam fee for the Series 7 General Securities Representative examination. Fee is paid directly to FINRA and is non-refundable regardless of exam outcome.
Series 7 Eligibility Requirements
FINRA Firm Sponsorship
You must be sponsored by a FINRA member firm to take the Series 7 exam. This sponsorship must be active for 2+ years or you’ll need to retake the exam.
Age Requirement
Must be at least 18 years old to take the Series 7 exam. No maximum age limit exists, and no specific education requirements are needed.
Background Check
Clean regulatory record required. Certain criminal convictions or regulatory violations may disqualify candidates from taking the exam.
Series 7 Exam Format & Content Outline
Function 1: Seeks Business for the Broker-Dealer (9-11%)
Function 2: Opens Accounts After Obtaining Customer Information (11-13%)
Function 3: Provides Customers with Investment Information (31-36%)
Function 4: Obtains and Verifies Customer Purchase Instructions (16-19%)
How to Register for the Series 7 Exam
Follow these steps to register for your Series 7 exam through the FINRA portal.
Contact a FINRA member firm to discuss employment opportunities. You cannot register for the Series 7 without active sponsorship from a registered broker-dealer. The firm will initiate your registration through the FINRA Gateway portal.
Required Documents:
• Form U4 (Uniform Application for Securities Industry Registration)
• Government-issued photo ID
• Educational transcripts (if applicable)
• Employment history documentation
Your sponsoring firm will help you complete Form U4, which includes:
• Personal information and contact details
• Employment history for the past 10 years
• Educational background
• Regulatory and criminal disclosure questions
• Fingerprint and background check authorization
Important: Answer all questions completely and honestly. Misrepresentation can result in registration denial.
Once FINRA approves your Form U4, you’ll receive scheduling instructions via email. You can then:
• Log into the Prometric testing portal
• Select your preferred testing location
• Choose an available date and time
• Pay the $245 exam fee
Scheduling Tips:
• Book early – popular locations fill up quickly
• Allow 4-6 weeks of study time minimum
• Schedule for your peak performance time of day
On exam day, bring:
• Two forms of government-issued photo ID
• One must include your signature
• IDs must be current and valid
• Names must match exactly as registered
Acceptable IDs:
• Driver’s license
• Passport
• Military ID
• State-issued ID card
Not Acceptable:
• Expired IDs
• Photocopies
• Student IDs
• Work badges
Ready to Start Your Series 7 Journey?
Now that you understand the Series 7 requirements and format, it’s time to choose the right prep course and start studying. Compare the top-rated providers and begin your path to becoming a licensed securities representative.
Disclaimer: Information provided is for educational purposes only and may change. Always verify current requirements with FINRA and your sponsoring firm. Affiliate Disclosure: We may earn commissions from test prep provider purchases. This does not affect our recommendations. Learn more.