Is Series 7 Exam Hard?

Can I take Series 7 on my own?

Step 1: Take and Pass the SIE Exam Note that FINRA says that the SIE and Series 7 exams are “corequisites,” which does not mean you have to take them at the same time.

What FINRA means is that you have to pass both to get your license, but you can take them in any order..

What is the hardest professional license to get?

The World’s Most Difficult ExamsThe United States Medical Licensing Exam. Once you’ve made it all the way through medical school to get your MD degree, you’re still not quite yet ready to actually practice medicine. … California State Bar Exam. … Master Sommelier Diploma Exam. … Uniform Certified Public Accountant Exam. … Certified Master Chef® Exam.

What are the Series 7 and 63 licenses?

The Series 7 and Series 63 licenses are the basic broker licenses, although the Series 63 license is state-specific. … The person you may work with for investing purposes may not prove to be a broker per se, but is a registered representative employed by a licensed broker or dealer.

Is the new Series 7 harder?

The new Series 7 is harder, kind of Test scores will be scaled in order to try to keep a consistent pass rate, but that doesn’t make the exam any easier while you’re actually taking it. It’s just likely you’ll be able to get a few more questions wrong and still pass, though that’s not yet clear.

Do you need a Series 7 if you have a CFA?

The Series 7 license can expire if a representative is not employed with a FINRA-registered organization for two years. Although some Series 7-licensed investment advisors also hold a CFA charter, most careers requiring a CFA don’t require a Series 7 license. Unlike the Series 7, the CFA certification does not expire.

Is there math on the Series 7?

The exam is approximately 30% math (e.g. options, margin and convertible bonds). … Other candidates “fear” the math – that’s okay too. Candidates who are stronger on the qualitative concepts and regulations and count on many of those questions on the exam.

How much does a Series 7 license cost?

FINRA Representative-level ExamsDurationCostSeries 7 – General Securities Representative Exam3 hours and 45 minutes$245Series 22 – Direct Participation Programs Limited Representative Exam1 hour and 30 minutes$40Series 57 – Securities Trader Representative Exam1 hour and 45 minutes$605 more rows

Is Series 7 harder than CPA?

Series 7 is one exam with a pass rate of around 65%. CPA is 4 exams, each of which have a pass rate around 50%. … I would say that Series 7 is more challenging than a single section of CPA exam but if you were to take the CPA exam as a whole, it is more difficult because it covers a wider range of topics.

How many pass the Series 7 on the first try?

Like all exams, the test becomes easier the more you do to prepare for it. The general consensus is that the Series 7 is less comprehensive, and therefore slightly easier to pass, than the CFA exams, but only 65% successfully make it through the Series 7 on their first time, so the pressure is on.

Is Series 7 or 79 Harder?

This test, in addition to the Securities Industry Essentials (SIE) exam, is a necessary step to obtaining registration for the job. The Series 79 is considered a lighter version of the Series 7 exam, but don’t be fooled: It’s deceptively difficult.

Can you keep your Series 7 license active?

As such, a financal advisor’s Series 7 license will remain active for 24 months after the advisor leaves his or her current broker dealer firm. If the advisor wishes to rejoin a broker dealer after the 24 months have passed, the advisor will need to retake the Series 7 examination.

How long does it take to study for Series 7?

100-150 hoursHow Long To Study For Series 7 Licensing: Recommended Study Time To Pass Your Series 7 Exam: You should plan to spend between 100-150 hours in preparing for both the SIE and Top-Off exams.

How many times can you fail the Series 7?

A candidate can take the Series 7 exam as many times as they like; however, for the first three times, the candidate has to wait 30 days before trying again; after the first three attempts, the candidate has to wait six months.

Is Series 7 or 24 Harder?

The 7 was actually fun compared to the 24. I think it’s accurate to say they’ve made it harder each test. The Kaplan material I used got me a 68% the first time, and a 70% the 2nd time.

What is the hardest series exam?

Series 7The Series 7 exam is by far the longest and most difficult of all the securities exams.