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If you're ready to invest in formal Series 7 prep, Varsity Tutors offers private Series 7 classes to help you work toward your professional goals. We specialize in referring individuals such as yourself to private tutors dedicated to helping you reach for your professional goals, so reach out to us today to get your Series 7 test prep started!

How Could Taking A Series 7 Class Near Me Prepare For The Test?

Series 7 (or the General Securities Representative Qualification Examination) is a standardized test administered by FINRA (Financial Industry Regulatory Authority) as part of the requirements to earn a license to trade general securities. It seeks to ensure that all entry-level securities representatives possess the skills and knowledge required to carry out their professional duties in a competent, legal, and ethical manner.

The first step in Series 7 test prep is figuring out whether you are eligible to take the test. FINRA requires all Series 7 test-takers to have previously passed the Securities Industry Essentials Exam (SIE Exam), a standardized test that covers basic topics associated with the security industry. If you have not yet taken this exam, your Series 7 preparation could begin by helping you study for it.

Once you pass the SIE Exam, you must be sponsored by a FINRA member firm or Self-Regulatory Organization (SRO) in order to sit for the Series 7. If you have any further questions about the prerequisites associated with the test, feel free to ask your Series 7 tutor for clarification.

When you are ready to begin your Series 7 test prep in earnest, there are a few guidelines you should follow. First, make sure that all of your Series 7 prep materials are up to date. FINRA frequently modifies the official Series 7 content outline, so studying for a previous version of the test may not prove beneficial. Of course, the Series 7 course we recommend for you includes the most current information possible, so you don't have to worry about this when you choose Varsity Tutors.

Second, effective Series 7 test preparation emphasizes the concepts on the test, not the rote memorization of answers. If you memorize answers and the actual exam words a question slightly differently, you'll find yourself with no fallback option on test day. Alternatively, concentrating on concepts during your Series 7 prep makes it easier to adapt to alternate wordings.

What Concepts Can My Series 7 Classes Near Me Focus On?

The first step in Series 7 prep is usually developing a familiarity with the content and structure of the test. The syllabus below lists all four sections on the exam as well as how highly they are weighted:

Series 7 Exam Structure


Percentage of Exam

# of Questions

Seeks Business for the Broker-Dealer from Customers and Potential Customers



Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives



Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records



Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions



If you were to take a standard Series 7 course with a set curriculum, it would probably emphasize the third section above because it constitutes 73% of a student's grade. That's great if it's the area you feel you need the most help in, but what if you want to go over how to finalize a trade? A private Series 7 class allows you to concentrate on any topic you want to. There are no artificial limitations on how long your Series 7 test prep may last either, ensuring that you never leave a concept behind until you are ready to do so.

Let's break the exam down section by section to see how Series 7 test preparation can help you with each area. The first section emphasizes how to build a personal rapport with potential clients and get them to choose you as their broker-dealer. This issue could prove challenging to tackle in the abstract, so you may wish to roleplay a few different scenarios during your Series 7 test prep to help you feel more confident heading into the exam.

For instance, your Series 7 tutor might act as a potential client for you to sell yourself to. They could tell you their investment objectives and available capital, and you could provide a quick synopsis of what you might do with their assets. When the conversation is over, your instructor can point out everything you did well and any areas where you could improve.

The second section focuses on opening accounts and obtaining your new client's financial profile. The latter is largely an issue of communication, so the technique outlined above may help you prepare during your Series 7 prep. If you need to review how to formally open a financial account, your instructor may provide sample problems to help you develop a familiarity with the process during your Series 7 test preparation.

The third section is by far the most important as it includes most of what securities representatives are expected to do day-to-day. The most important thing covered is how to select appropriate investments based on a given client's needs and then effectively communicating why your selections are the best choice. To simulate this, you might explain why you would pick a particular investment product to your tutor to practice outlining your reasoning during Series 7 courses. .

It's important for financial professionals to be able to deliver their recommendations with conviction, so your tutor may challenge your choices. If you pick an unsuitable investment, your tutor may counter with a more appropriate choice and wait for you to realize the error. If you originally choose correctly, your instructor may play the role of devil's advocate to make sure that you can defend your choice.

While choosing appropriate investments is the most important part of Series 7 test prep, it's not the only topic covered by the exam's third section. There are a lot of legal restrictions on what finance professionals are allowed to sell, and section three also covers how to disclose this information to clients. If you have a hard time recalling all of the different rules you need to know, you might study them with flashcards or an informative chart during Series 7 tutoring sessions to make them easier to remember.

If you're looking for a more engaging Series 7 prep experience, regulations can also be turned into a game. For example, your instructor could name a law, and you have 10 seconds to call out a financial regulation it established. If you get it right, you move onto the next one. If you get it wrong, you need to study the law in question before advancing to the next question. Series 7 test prep is most effective when you are actively engaged in what you are doing, so there is no harm in adding a little fun to the equation!

The fourth and final section of the test deals with obtaining specific instructions from your client and executing them by finalizing transactions. If you could benefit from a refresher on how to complete a transaction, one can be provided as part of your Series 7 prep.

There is also a correct way to disclose how a customer's investments are faring, whether they are earning tremendous profits or losing money. Series 7 tutoring sessions are the perfect environment to ask any questions you may have on this topic. Otherwise, you are ready for the content of the Series 7 exam!

Can Series 7 Courses Near Me Prepare Me For The Structure Of The Test?

Absolutely! The Series 7 consists of 125 scored multiple-choice questions (plus 10 unscored items) administered over a testing session lasting 225 minutes. There is no penalty for guessing on the Series 7, so you should always plan to attempt every question. That makes time management an important consideration in Series 7 test prep.

One of the best ways to get a sense of what the time available to you might feel like is to take practice exams under realistic test-taking conditions during your Series 7 preparation. If you find that you are stuck on a particular question, your instructor could help you eliminate any obviously incorrect answer choices and move on instead of wasting all of your time trying to figure it out. Who knows - another question on the test may contain enough information to help you with the one that stumped you!

Taking practice tests during Series 7 prep can also help you identify your areas of strength and anything that you might need to go over again. For example, a student who constantly misses questions pertaining to overallotments may want to go over that topic again during their next Series 7 class. In contrast, you might not need to spend as much Series 7 test prep time on questions types you always answer correctly.

FINRA has a reputation within the financial community for intentionally wording questions in a deceptive manner. Taking practice tests during your Series 7 prep can help you learn their tricks so that you aren't fooled when it counts. Your Series 7 tutor may also point out anything that could prove especially troublesome.

The Series 7 exam is also administered electronically, which could be problematic if you have never taken an exam at a testing center before. If you're not confident in your computer skills, taking practice tests on a computer as part of your Series 7 course may help relieve any test anxiety you are dealing with.

There are also some rules about testing centers you may not be aware of. First, understand that you cannot bring anything with you. If you're somebody who always took out their notes right before taking a test in school, plan your Series 7 prep around not being able to do so.

The testing center will also provide a basic calculator and a dry-erase board you can use as scrap paper to help you with the quantitative questions on the exam. It may be tempting to use these resources on every question, but remember that you are working with a strict time limit. Double-checking your work is a great idea if you finish with time on the clock, but it's much more important to actually finish the exam. You can review when and how to utilize the resources available to you during your Series 7 test prep.

Is There Anything Else I Should Know About Series 7 Classes Near Me?

Enrolling in a Series 7 course allows you to study in a private learning environment. Your instructor does not need to grade 20 assignments before you learn how you did, giving you faster feedback so you can correct any mistakes while the material is still fresh in your mind. Any Series 7 prep questions you ask can be answered immediately. Most importantly, Series 7 tutoring can be adapted to your unique learning style. If you're a visual learner, your Series 7 preparation might emphasize charts and graphs to make concepts easier to see. Alternatively, a practical learner might concentrate on use cases during their Series 7 test prep to make abstract concepts seem more relatable.

Varsity Tutors also tries to make Series 7 test preparation as convenient as possible. All of our Series 7 courses take place on our proprietary Live Learning Platform, giving you the benefits of face-to-face instruction from the comfort of your living room (or anywhere with a stable internet connection). We also do our best to refer every client to an instructor who meets their scheduling needs for added flexibility. We believe that nobody should need to put their job or hobbies on hold just for Series 7 prep!

If you would like to experience the difference Varsity Tutors Series 7 test prep can make for yourself, give us a call today! Educational Directors are standing by to help you find quality Series 7 prep in any way that they can.

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