SERIES 7 EXAM TUTOR - NEED TO PASS THE SERIES 7 EXAM?
In order to pass the series 7 exam, one needs to remember a lot of information. This can be a daunting task for some people. Each series 7 textbook has hundreds of pages and some of it, let's be honest, may not be all that interesting. Some students highlight the series 7 material which is a great idea. With that said, if you do not go back and review what you highlighted, you will lose some of the benefit. Everyone should read the series 7 textbook (surprisingly, some students choose not to read the textbook). While you are reading the textbook, you should take notes or highlight important concepts Periodically, students should review their notes and/or highlights. It can also be helpful to create a few pages of "essential to know" notes and review these notes prior to taking exams. The idea is to create a funnel starting with the whole book, then the highlights/notes, then the essential notes.
Students often speak to people who have taken the series 7 exam and get feedback on what was heavily tested or what was not heavily tested. And sometimes, based on this information, series 7 students will focus on certain areas and neglect other areas. This is a mistake! Everyone's test is different and while someone had what their consider to be a low number of options questions, others may have had lots of options questions. The bottom line is that students need to study everything. A series 7 tutor can help you understand the topics on the test.
Well, I am writing this post because I work with a lot of series 7, 6, 63, 65 and 66 students and a few of them have reported that their employers tell them not to read the series 7 or series 66 manuals and to instead only focus on the questions. This is bad advice. While answering questions is important, reading the textbook is just as important.
FINRA's Series 7 Content Outline makes it clear that being able to provide suitable recommendations to customers is an essential responsibility of a registered representative. Recently, FINRA changed its outline for the Series 6 Exam. As of December 16, suitability and responsibilities related to making recommendations will comprise 47% of the Series 6 Exam. This is a substantial change for the Series 6 Exam and as a result, working with someone who has hands on experience in the area of providing recommending is essential.
Students often think that equities are easy. Knowing the key differences between common and preferred stock is important; understanding dividends in terms of when an investor is entitled to them or what type of companies pay dividends is also important and so are the concepts around issuing stock. With that said, most students can learn these concepts on their own or with a little help. However, getting a handle on which stocks are suitable for various types of customers can be challenging for some students, especially those with limited investment experience. You should get to know the characteristics of the numerous equity sectors and why a particular stock would be suitable for your customer. This is hard to learn from a manual. You should consider working with someone who has experience analyzing securities, making recommendations and investing client assets such as the owner of Series 7 Exam Tutor. Doing practice questions also helps.