anyone care to comment on the 7 pass rate for their respective classes this year i've been hearing its been a bit harder this year (especially with the pass rate now at 72%) heard recently out of a class of like 70 there were like 9 fails....
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The test is extremely easy. If you fail its because you put zero effort in to it
If you're using STC, just take the practice tests and read the explanations. The class and book are useless if you studied finance/accounting/econ in college. If you were a liberal arts major and are looking at this for the first time, go to class if you can and read through the book....but the practice tests should be 70%+ of your effort.
It's not hard, it's just a time drain. A LOT of people fail it the first time, but don't fail it the second time.
The 7 is a test you never want to have to re-take. It is a miserable slog. That said, it's not difficult - just long. Like we used to say in the old days, "Anything above 70% is wasted effort." Apparently the new threshold is 72%. I wanna say I got an 87% the first and only time I took it. So I put a little too much time into studying.
I don't remember my exact score, but I do remember it was over 85%. I scheduled my test about a month after passing my series 65 and only opened the Series 7 book to learn about options and margins. I think the hardest part was staying awake for the 5 hours the test takes.
I don't remember my exact score, but I do remember it was over 85%. I scheduled my test about a month after passing my series 65 and only opened the Series 7 book to learn about options and margins. I think the hardest part was staying awake for the 5 hours the test takes.
i got a 75% first time around. studied like a maniac for a month. i hope to never do it again.
This what the head of our division said on the first day of my training class a number of years ago: if you don't pass the 7, don't bother coming to work the next day, because you're either too stupid or too lazy to work here.
Haha that's my type of guy.. says it exactly like it is. Really not that hard of a test, just a lot of material to cover. If you have an instructor, pay attention and do the practice tests- understand WHY you got questions wrong/right. If no instructor, little more difficult but definitely doable. There is too much info to memorize questions/answers.
The people that failed in those 70 were either lazy or just not that smart. There literally is no excuse to fail.
You have to understand that you can get 28% of the test wrong and still pass. Crazy. Nothing like in school where over 10% was "unacceptable". Put in the time and make it happen.
Not sure of the pass rate. FINRA does not publish those numbers. The material is not that hard if you have a finance background in school and some experience in the industry. Not everyone taking the test has a good background going into it. If you have a good background and you study hard, you should pass. I scored a 94% but I had been working for almost 10 years and was half way through an MBA in finance when I took it.
Series 7 - Failure Rate (Originally Posted: 07/05/2007)
I have a couple of questions regarding Series 7
1)It's not that bad, a lot of very basic questions on options though 2)I took a week long class and that was plenty 3)Books and tests 4)I have no idea, but pretty much everyone i knew passed easily 5)it's rare. you dont want to fail twice. 6|take the course if they offer it, or if not, an hour or so a night and a few hours on a weekend will be plenty.
A lot of memorization. Hate to quote a movie as bad as Boiler Room, but "If you study, you'll pass."
Class Monday through Friday. You can still work on weekday nights. Do 4-8 tests on the weekend. Take test on Monday.
Outside of books / class. I'm big fan of the Kaplan CD, it helps you get used to taking tests on the computer
I remembered some ridiculous number like 60% fail. You have to remember that Jimmy Bob in Bumfuck, Mississippi who is trying to be a financial broker assistant is taking the test too. Guessing that you have an above average IQ, you should be fine.
It happens, you won't be fired if you do.
As the abvoe poster said.
oh come on, boiler room wasnt that bad.
the 7 is not that hard. alot of reading. read the book but concentrate on the practice tests.
i know at some firms, they do fire on the first fail...
Series 7 - New passing grade a 72%? (Originally Posted: 05/21/2013)
Looking to take the Series 7, just had a few questions.
Is the new passing grade a 72% ?
I took the Series 7 about five years ago, unfortunately didn't pass. The exam had about 50+ option questions. I heard the next exam doesn't have many at all is this true?
What's the best study material out there?
Thanks! Dean
Passing is 72% I don't think it was 50% options, but it was a decent amount. I used Training Consultants. Their practice questions were pretty much spot on compared to the exam. Took the exam around September of last year.
There are still quite a few options questions...Luckily I love options so I demolished that part of the test. I used STC and it was great - though I hear amazing things about training consultants and their instructors (I believe the lady's name is...Tina?)
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