Is the Series 7 as hard as the bar exam?

How to pass Series 7 on first try?

What is the failure rate for the Series 7 exam?

Known as one of the toughest FINRA licensing exams, Series 7 has a pass rate of less than 72%. You need a prep course that ensures one of those passers will be you.

Is Series 7 a big deal?

The FINRA Series 7 exam is your key first step. It's the gateway to roles in securities trading and advice, marking you as a certified pro. Officially called the General Securities Representative Exam, passing it means you're ready to dive into the finance industry's opportunities.

What is the average salary after passing the Series 7?

The average base salary for a Series 7 license holder varies, depending on your experience, location, and job role. For instance, entry-level professionals normally earn around $50,000 to $70,000 while experienced professionals may earn up to $100,000 or more.

Is there a lot of math on the Series 7 exam?

On the FINRA Series 7 Exam, you can expect addition, subtraction, multiplication, and division. For almost everyone that we encounter, it's not the math that is the problem. Ultimately it's deciphering what formulas to use, and what math to apply given the wording of the question.

How long should I study for Series 7?

How 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.

Is the Series 7 as hard as the bar?

Any state bar exam as well as the UBE (Uniform Bar Exam) is much more difficult than the Series 7 exam taken to become a stock broker. It takes 3 years of intense study to get through law school after which most take a 2 or 3 month bar review course prior to sitting for the bar exam.

Is passing the Series 7 an accomplishment?

Passing the Series 7 exam is a necessary step to become a general securities (GS) representative, investment advisor, or financial advisor. It qualifies you to sell more securities products than the Series 6, and it is one of the longest FINRA exams.

Is Series 7 or CPA harder?

Having taken and passed both, I can say that without a doubt the CPA exam is more difficult, and for one primary reason… breadth of subject matter. The Series 7 is 3 hours and 45 minutes, is comprised of 125 questions, and has a pass rate of approximately 70%.

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 a Series 7 license worth it?

The Series 7 license stands out in the industry because practitioners must pass one of the longest and most rigorous exams in the industry to obtain it. This license not only allows them to sell most securities, but it also means they have extensive knowledge of financial topics.

Does a Series 7 make you a financial advisor?

To obtain their licenses, financial advisors must pass the Series 7 exam, which is no easy feat. Once they've cleared this hurdle, however, new professional doors may open in financial advising, investment management and other roles. Here's what advisors should know about the Series 7 license and Series 7 exam.

Can you take the Series 7 without being employed?

Unfortunately, when you are just starting out in your career, the requirement to be sponsored by an employer can feel like a catch-22. Here's the thing: in order to qualify to take the Series 7 exam, you need to be sponsored by a member firm, a self-regulatory organization (SRO), or an exchange associated with FINRA.

What jobs can I do with my Series 7?

How many people pass Series 7 on First Try?

Around 6.5 out of 10 people, or 65%, will pass the Series 7 exam on the first try. The first-time pass rate for the Series 7 has been between 60% and 70% for the past few years.

How much money can you make with Series 7?

As of Jan 15, 2025, the average hourly pay for a Series 7 in California is $27.32 an hour. While ZipRecruiter is seeing salaries as high as $45.08 and as low as $11.15, the majority of Series 7 salaries currently range between $18.99 (25th percentile) to $28.94 (75th percentile) in California.

What is the most difficult FINRA exam?

To sell the broadest range of securities, an FA working for a broker/dealer must have a Series 7— General Securities Registered Representative. With a few exceptions, all other licenses orbit around the 7, which most FAs regard as the most difficult FINRA exam to pass.

How long should you study for Series 7?

Most financial institutions will provide new hires with Series 7 study materials and will encourage them to allocate about 1 week of dedicated study time. In reality, test takers should spend close to 100 hours, of which at least 20-30 hours should be dedicated to practice exams and questions.

Does Series 7 expire?

a) Once an individual becomes GS registered, the S7/S7TO will remain valid as long as they hold that registration. b) Once an individual ceases being GS registered, the S7/S7TO will remain valid for two years from the date of termination on the Form U5.

Is the Series 7 exam curved?

The Series 7 exam, like other FINRA exams, is presented in a bell curve. Exams presented in this manner should start with easier questions, move to more challenging questions, and end with easier ones. However, we recommend you not go into the exam with any expectations concerning question difficulty.