The FINRA Series 7 exam consists of 250 multiple-choice questions. Candidates have 6 hours to complete the exam and it is administered in two three hour sessions (130 questions per session). No two candidate exams are identical because the questions are randomly selected from a pool.
The FINRA Series 7 exam covers the following topics:
- Seeks business for the broker-dealer through customers & potential customers – 68 questions
- Evaluates customers’ other security holdings, financial situation & needs, financial status, tax status & investment objectives – 27 questions
- Opens accounts, transfers assets & maintains appropriate account records – 27 questions
- Provides customers with information on investments and makes suitable recommendations
- Obtains & verifies customer’s purchase & sales instructions, enters orders & follows up – 58 questions
Financial Industry Regulatory Authority (FINRA) Series 7 Exam - Sample
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Question 1 of 10
1. Question
The Bubba Corporation has 900,000 of common outstanding and holds 100,000 shares as treasury stock. At the end of the third quarter $450,000 is distributed as a dividend on the common. How much is the dividend per share?
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Question 2 of 10
2. Question
In mid-September, Bubba sells one XYZ February 50 call at $6. It subsequently expires without being exercised. How is the premium taxed?
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Question 3 of 10
3. Question
In June, Bubba bought 100 shares of XYZ at $35. In November, he bought a listed put in XYZ with a $35 strike price and a July expiration for a premium of $600. In April, Bubba exercises the put option and uses his stock for delivery. What is his resulting tax consequence?
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Question 4 of 10
4. Question
Which of the following is an acceptable deposit to answer an NYSE maintenance call?
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Question 5 of 10
5. Question
Which of the following is the least important method of money control exercised by the Federal Reserve?
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Question 6 of 10
6. Question
Bubba is a registered representative who wishes to buy shares of a new issue his firm is distributing. Under FINRA Conduct Rules, Bubba may:
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Question 7 of 10
7. Question
Under the Investment Company Act of 1940, what is the minimum net worth of a registered investment company?
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Question 8 of 10
8. Question
Which of the following preferred issues is likely to fluctuate most in value?
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Question 9 of 10
9. Question
A mutual fund characterized by a modest sales charge and an investment in a fixed portfolio of municipal securities is a:
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Question 10 of 10
10. Question
Bubba owns 200 shares of XYZ at $90, and wishes to hedge the position while generating income. What is the best recommendation?
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