I’m switching career paths, having decided that magazines and newspapers aren’t what anyone would call a growth industry. Got picked up (after 5 months of interviews) by a brokerage firm and have been studying for quite a bit.
Today I went in for my Series 7. I did a 7 hour test in 2.5 hours (with 1/2 hour break) and passed.
Me, too. Lot’s of online instruction and coaching. 34 of us in the class at the beginning. 27 made it to the final. I’ll find out Friday how many are still with us for the 66.
Wow, congrats! I don’t ever plan to run that particular gauntlet myself, but I’ve had it described to me as as “the exam whereby FINRA tries their hardest to fail everyone.” I’m sure the 66 will be a cinch in comparison.
I took the Series 6 and 63 exams a few years back and passed both. I didn’t find them all that difficult, but I knew better than to mess with the Series 7.
Danger Man, the Financial Industry Regulatory Authority (FINRA) requires that people in the business of selling investment products take exams to prove that they know what the hell they’re doing. The Series 7 will allow Mr. Chance to sell stocks and bonds. The Series 6, which I took, allowed me to sell mutual funds and investment vehicles that are based on mutual funds, such as variable life insurance and annuities; educational savings accounts, such as 529 plans and Coverdell accounts; and retirement savings accounts, such as IRAs and 401(K) plans. There are other exams for people who work as options or commodities traders, supervisors/managers, and in other aspects of the financial services industry. Some of these exams are harder than others, obviously, so to pass the Series 6 is not that big a deal, but passing the Series 7 is pretty damn admirable.
Seriously, I studied hard for the last six weeks with a good training department helping me back at the home office. But I was sure glad to see that score popped up ‘passed’ when I clicked the grade buttonm. That was a long ten seconds or so.
Congratulations. You are entering a field that is beginning to rival lawyers for unbridled hate. Whatever you do, don’t make too much money, people hate that, and God forbid you should ever take a bonus.
I remember taking that. It’s so not as hard as they make it out to be. I have no idea why they give 6 hours (that’s all I was given back in 1996). Yeah, I know it took me less than half that time. I scored in the high 80’s and everyone teased me for studying too hard as all you need is a 70.