I Passed my Series 7 yesterday and I thought it would be helpful to share my experience in efforts to shed light on this exam. I'll cut to the chase, its a BEAR no pun intended. However, Its not impossible. I have a masters degree, got excellent grades in school, but never did well in standardized state tests. I only share this because if you know about these kinds of tests you know that it doesn't measure an ounce of intelligence. It measures if you have taken enough Ginkgo Biloba to retain the information.
Guide to Passing the Series 7 Test
Back to business. I used Kaplan for this test and let me just say that it was exactly what I needed. I did about 2000 questions read the book twice. Here is what worked for me. READ THE BOOK! yes the whole 667 pages. Twice if you can if not at least skim through it the second time. Next, buy the Q-Bank! the questions in the Q-Bank are exactly what is needed to get this monster tamed. I created 100 questions exams covering all topics, then did a simulation exam of 125 random computer selected questions.
Then I focused on the weak areas by doing 200 questions on each weak area and I re-read the chapter I was weak on. This will improve your scores very quickly. I didn't get any other supplements they are unnecessary, also don't waist your time going to that Kaplan class its a waste of time, I went to it and I felt like the person teaching it was a robot reading off the book. I left the third day and studied more. If you are getting 85% PLUS on simulation exams YOU ARE SOLID!
CAUTION!: I want to caution you on the following, don't take the Practice Exams and Mastery exams** IF **you happen to skip them (like me for some odd reason) and are already on the 'taking the question bank train', the purpose of those tests are to give you an idea of where you should focus your efforts moving forward right after you finish the book and do a minor amount of questions. If after doing 2000 questions and scoring mid 80's you take the "Practice Exam or Mastery Exam" and If you score say a 70 on those tests but are scoring mid 80s on the simulation expect to pass. Those tests are stupid difficult and in my opinion completely unrealistic.
Remember to focus on suitability, Debt securities, Munis, options and variable annuities. They are all huge.
Lastly, I passed with an 85 and yes , (spare the smart ass comments), I did bust my ass and yes I did study hard. No such thing as studying "too hard" when your job is on the line. Kaplan is the way to go Qbank is on point. I would say that the Kaplan Q Bank is in line with what you will see on the test.
Check out the below video to learn more.
Read More About the Series 7 Exam on WSO
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