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FINRA Series 7 Licensing - Training, Exam Prep, Study Guides

How To Become A Stockbroker By Earning A FINRA Series 7 License: Requirements, Costs, And Test Prep Hints

What Is A Series 7 License?

A FINRA Series 7 license qualifies a candidate for the solicitation, purchase, and/or sale of all securities products, including corporate securities, municipal securities, options, direct participation programs, investment company products, and variable contracts. Questions on this securities exam are designed to test a candidate's knowledge and skills needed for ongoing success as a General Securities Registered Representative.

By successfully passing the FINRA Series 7 securities exam, you will be qualified by the Financial Industry Regulatory Authority (FINRA) as a Registered Representative of a broker-dealer in the United States - often referred to as a "Stock Broker".

What Does A Stockbroker Do?

A stock broker (aka a registered representative, investment adviser, or broker) is a professional who makes suggestions, executes buy and sell orders for stocks, bonds, and other securities, and helps to manage the financial portfolios of clients. You'll be qualified as a stock broker upon passing your Series 7 exam, with covered activities and products including:
  • Securities such as such as stocks, mutual funds, and ETFsSeries 7 review classes and training courses
  • Corporate bonds, Municipal bonds, and government securities
  • Options and Derivatives
  • Commodities and Futures
  • Limited Partnerships
  • Money market funds
  • Fixed and Variable Annuities
  • Retirement planning, Financial planning, and Taxation
Requirements For Becoming A Stockbroker

If you want to become a stock broker, you are required to take both a Securities Industry Essentials (SIE) exam and a Series 7 exam. Luckily, AB Training Center provides both SIE and the Series 7 license review courses.

These courses will help you prepare so you can confidently answer each of the SIE and Series 7 exam questions that will appear on your exams so you can be confident that our SIE and series 7 exam review packages will give you the knowledge and the skills you need to pass your exam on the first try.

Required Courses For Earning Your Series 7 License

To earn a Series 7 license you must complete both the SIE and the Series 7 licensing courses. Links for each of these securities licensing courses appear below.

SIE Training Options:Series 7 Training Options:

Recommended Series 7 Classes, Study Guides, And Exam Prep Materials

Training Center offers in-person, online, and self-study Series 7 prep formats, all including a wide variety of Series 7 study materials designed to help you pass your exam on the first try. To find the best test prep materials and courses for you, either select a recommended course herein or use the search box by selecting "Series 7" and your state from the "Licensing" section.

Top FAQs

A Series 7 license qualifies an individual to solicit, purchase, and/or sell all securities products, including corporate securities, municipal securities, municipal fund securities, options, direct participation programs, investment company products, and variable contracts.
The various account types, assessing customer needs and profiles, various security and risk options, account opening requirements, and more.
A Stock Broker (aka a registered representative, investment adviser, or broker) is a professional who makes suggestions, executes buy and sell orders for stocks, bonds, and other securities, and helps to manage the financial portfolios of clients. 
Downloadable and printable training materials, Instructor-led training, and a bunch of sample exams.
You should spend several hours preparing for the Series 7 exam by both reviewing the materials and taking sample exams. All in, you'll probably spend around 100 hours between the SIE and Series 7 classes, reviewing materials, and taking sample exam prep tests.
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How To Become A Stockbroker: About The FINRA Series 7 Licensing Courses And Study Materials

About The SIE Exam Requirements And Information

The SIE is an introductory-level exam that assesses a candidate's knowledge of basic securities industry information and concepts fundamental to working in the industry, such as types of products and their risks, the structure of the securities industry markets, regulatory agencies and their functions, and prohibited practices.

The Essentials exam is open to anyone aged 18 or older, including students and prospective candidates interested in demonstrating basic industry knowledge to potential employers. Association with a firm is not required, and individuals are permitted to take the exam before or after associating with a firm.

There are no pre-requisites to taking the Securities Industry Essentials Exam, and once you pass your SIE exam, you have one full year to study for and pass your Series 7 exam.

How To Become A Stockbroker By Passing The FINRA Series 7 License Exam

The Series 7 is one of the more lengthy and intensive exams administered by FINRA. The average passing ratio of students taking the Series 7 exam is approximately 65%. For most people who passed the Series 7 exam on their first try, they attribute their success to quality Series 7 exam prep classes and Series 7 study materials...and MANY hours of preparation.

While you will find several resources available for how to pass the Series 7 exam, AB Training Center offers one of the most comprehensive Series 7 Exam Prep Classes available. Our Series 7 classes provide guided and structured coursework, include unlimited Series 7 practice exams.

The following are recommended steps for how to pass the series 7 licensing exam and become a stockbroker. You can do many of these at your own pace, so you can work toward your Series 7 license on a timeline that works for your needs. Steps include:
  • Prepare for and Take the SIE
    The SIE is a new exam designed by FINRA to reduce subject matter redundancy between current Series exams. Questions on the SIE exam test your general knowledge of financial activities. You can choose to take the SIE either before or after your Top Off exam. However, many people find it much easier to obtain sponsorship - a required step before registering for the Series 7 exam - after they've passed their SIE exam.

  • Obtain a Sponsorship by a FINRA Member Firm
    Before you can register for your Series 7 exam, FINRA requires you to be associated with and sponsored by a FINRA or self-regulatory organization member firm. Your firm will register you for the exam by filling out a Form U4 (Uniform Application for Securities Industry Registration or Transfer Form) through the FINRA website. At this time, you'll be fingerprinted and undergo a background check.

  • Study for the Series 7 Exam
    After your sponsorship, you can start studying to take your Series 7 Top Off exam, either before or after passing your SIE. It covers numerous topics related to a stockbroker's four main job functions. To ace your exam, you'll need a comprehensive study plan that accounts for each of its four aspects. At AB Training Center, we provide all the tools and support necessary for outstanding success, including Instructor-led, online, and self-study formats, all of which include study guides, practice tests, printed materials, and more.

  • Pass The Exam to Receive Your Series 7 Licence
    You'll need a score of 72 percent or better to pass your Series 7 exam and receive your license.
More About The SIE | More About The Series 7

About The Series 7 Exam Format: What Is On The FINRA Series 7 Exam

The FINRA Series 7 Licensing exam tests your knowledge about buying and selling securities products such as stocks and bonds, options, mutual funds, ETFs, and more. The exam covers the following major topics:
    Series 7 review classes and training courses
  • Equity and Debt Securities
  • Options and Derivatives
  • Retirement Plans
  • Regulations
  • Taxation
Candidates have three hours and 45 minutes to answer all 135 multiple-choice exam questions, which includes 10 additional questions that don't contribute to the score. Each has four possible choices.
Tip: Whether you take on in-person, online, or self-study course, all come with many sample exam questions. We suggest you take as many of these sample exams as possible, so you might want to leave two weeks between when you complete your pre-licensing course and your exam date.
To start the process of earning your Series 7 Securities license, simply choose your preferred pre-licensing course from the list below.

Choose For Your Series 7 License And Test Prep Materials

If you're ready to prepare for a prosperous future as a stock broker, AB Training Center offers you the tools you need for success on your SIE and Series 7 exams.

Since 1994, we've helped thousands of rising financial professionals across the country ace their Series exams and find ongoing success and enjoyment in their profession. We've teamed with industry leaders like Kaplan Financial to offer numerous affordable course options to meet your needs.

Get the tools you need to ace your Series 7 exam. Contact us today for more information, or click on the available courses above to enroll in your SIE and Series 7 prep.

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