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What is the duration, language, and format of FINRA Series 7 Certification Exam

• Number of Questions: 125
• Length of Examination: 225 minutes
• Language: FINRA Series 7 offered in English (U.S.), Chinese (Simplified), Czech, Dutch, French, German, Hebrew, Italian, Japanese, Korean, Polish, Portuguese (Brazil), Russian, Spanish, and Turkish.
• Passing score: 72%
• Format: Multiple choices, multiple answers

How much FINRA Series 7 Certification Exam cost

The Series 7 exam is officially known as the general exam of securities representatives. It is a highly regulated exam that must be taken in an official test center. The cost to take the test is at least $ 265, with some areas in charge a little more.

The benefit in Obtaining the FINRA Series 7 Certification Exam

The advantage of the Series 7 license is that it allows you to sell different types of products in securities, with the exception of commodities and futures. Series 7 license is valid for the entire period you work for a FINRA member company or self-regulatory organization (SRO). Consider if you are working for a mutual fund company as a fund manager. Mutual fund managers buy and sell shares on behalf of subscribers, based on the stated objectives and strategies of each fund they supervise. If you win Series 7 and 66 before you have enough experience to work like a mutual fund manager, enter the door of a mutual fund company as a stock market researcher or analyst, so progress in exceptional performance. Consider if you are working as a financial advisor for a financial services company. Financial advisors work directly with individual clients in the consumer or corporate segment, rather than grouping funds from many clients such as mutual funds. Financial advisors can be paid commissions based on the different financial products they sell, or they can be paid with a fixed commission based on the dollar amount of the assets they manage. As an action-oriented consultant, look for a position that you pay yourself on a flat rate basis, as this will allow you to earn more money over time by increasing your clients' wealth.Get the Chartered Financial Planner (CFP) designation before working as a financial advisor or find a company willing to sponsor you to take the exam after your arrival on board. >> New Series-7 Study Guide <<

New Series-7 Study Guide - Quiz 2023 First-grade Series-7: General Securities Representative Qualification Examination (GS) Best Vce

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FINRA General Securities Representative Qualification Examination (GS) Sample Questions (Q29-Q34):

NEW QUESTION # 29
Which of the following types of investment companies pays out 90% of its net investment income to shareholders?

• A. registered
• B. balanced
• C. diversified
• D. regulated

Answer: D Explanation:
Explanation/Reference:
Explanation: regulated. Investment companies regulated by the Internal Revenue Code Subchapter M are required to pay out a minimum of 90% of their net income annually to their shareholders.
NEW QUESTION # 30
A mutual fund custodian is paid according to which of the following specifications when receiving deposits from a shareholder's reinvestment plan?

• A. a processing fee
• B. a commission for each share purchased
• C. a percentage of the sales charge
• D. a percentage of the fund's net asset value

Answer: A Explanation:
a processing fee. Many custodian banks charge the custodian fee to the mutual fund rather than the individual shareholder.
NEW QUESTION # 31
Which of the following does not appear in a municipal syndicate letter to underwriters?

• A. the duration of the syndicate account
• B. the specific bid and offering terms of the issue
• C. the extent of the manager's authority in directing the offering
• D. the amount of each member's participation

Answer: B Explanation:
Explanation/Reference:
Explanation: the specific bid and offering terms of the issue. The bid and offering terms are determined after the syndicate letter to underwriters.
NEW QUESTION # 32
Bubba has a short margin account with a short market value of $22,000, a credit balance of $42,000, and SMA of $500.
What is the NYSE minimum equity maintenance for this account?

• A. $6,000
• B. $12,600
• C. $6,600
• D. $5,500

Answer: C Explanation:
Explanation/Reference:
Explanation: $6,600. The NYSE maintenance requirement on short margin accounts is 30%. Multiplying the short market value of $22,000 by 30% equals $6,600.
NEW QUESTION # 33
Bubba buys a bond issued at par with a 5% coupon that is convertible into common stock at $40.
What conversion ratio does Bubba determine?

• A. 0
• B. 1
• C. 2
• D. 3

Answer: C Explanation:
Explanation/Reference:
Explanation: 25. The conversion ratio is how many shares of common stock Bubba obtains by converting.
Divide the bond price - $1,000 for a single bond - by the $40 conversion price.
NEW QUESTION # 34
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