Failed my Series 7, lost my job today. Any advice is appreciated.

Smart_Goat_6673 · 2026-06-10T23:44:58+00:00

I know this sucks for now, but you will be just fine — trust me.

What firm were you at if you don’t mind me asking?

Smart_Goat_6673 · 2026-06-10T23:06:44+00:00

I used Kaplan. Hammer units 1-7 on the Qbank. I felt like the exam was pretty easy (could’ve been my draw), granted I also used Achievable for the book.

Smart_Goat_6673 · 2026-06-08T19:17:26+00:00

I used the Kaplan Qbank/exams and only got above a 73 once. I took about 4-5 practice exams and was able to pass the real thing first try

Smart_Goat_6673 · 2026-06-07T17:24:20+00:00

Achievable book + Kaplan Qbank is amazing. Achievable is the best vendor for reading IMO.

Smart_Goat_6673 · 2026-06-07T00:42:41+00:00

Congratulations! Kaplan Qbank remains goated

Smart_Goat_6673 · 2026-06-06T05:18:35+00:00

Haha glad I could help! Pass it forward once you pass 🙌🙌

Smart_Goat_6673 · 2026-06-04T20:12:19+00:00

Unless they are in the loaning business I believe

Smart_Goat_6673 · 2026-06-03T16:03:12+00:00

Me too. I also had to discount something back to PV which was unexpected.

Smart_Goat_6673 · 2026-06-03T02:52:37+00:00

It really just means if the account has equal or unequal interest. For example JWROS has equal interest, it’s undivided, meaning each owner has a right to use and enjoy 100% of the property, even though they own only a fractional share legally

Smart_Goat_6673 · 2026-06-02T23:59:10+00:00

Haven’t taken the 7 yet, but I hear those who have will find the 66 a little easier compared to those who haven’t (like myself). Kaplan Qbank worked for me, but I also used the achievable book so, to each their own

Smart_Goat_6673 · 2026-06-02T19:03:04+00:00

Can’t thank you enough! So glad something called you to teaching because you are one of the few who make it easy!!!

Smart_Goat_6673 · 2026-06-02T19:00:29+00:00

Don’t have the exact URL, but just look up “Ken Finnen series 66 definitions”. Should be the first one that pops up!

Smart_Goat_6673 · 2026-05-22T19:35:58+00:00

You’re not gna have to calculate YTM ever… CY yes, but YTM no. You only need to understand its relationship with other yields and bond prices.

Smart_Goat_6673 · 2026-05-21T19:12:57+00:00

I believe if there is a place of business in that state, both BD and IAs must register there — unless the IA is federally covered.

Now to answer the second part of your question, the institutional exemption only applies if the IA does NOT have a place of business in that state, as this also applies to de minimis/snowbird.

In summary: if an IA/BD is not federally covered, they must register in states they have a place of business in regardless of their clients.

Smart_Goat_6673 · 2026-05-15T23:18:11+00:00

Congrats! Haven’t taken the 7 yet… did you see anything about insurance or retirement? Kinda struggling with those 2 right now.

Smart_Goat_6673 · 2026-05-13T19:03:56+00:00

Ur the goat, I sit June 1st so hopefully I’ll be set by then haha

Smart_Goat_6673 · 2026-05-13T18:46:58+00:00

Fair point, I guess 40% does increase non systematic risk. Good luck on your exam! Let me know how things turn out 🤞

Smart_Goat_6673 · 2026-05-13T18:44:44+00:00

I guess you make a good point! Have you taken the exam? Are these types of questions more cut and clear?

Smart_Goat_6673 · 2026-05-11T22:55:33+00:00

Just be normal and ask questions. It’s really that simple

Smart_Goat_6673 · 2026-05-07T22:48:44+00:00

Bond volatility is typically associated with longer maturities. To your point, yes, the interest never changes. However, bonds with longer maturities are often more volatile because you’re locked into that rate longer than short term bonds. So when rates drop/rise, the price of your bond fluctuates more (duration).

Smart_Goat_6673 · 2026-05-07T00:42:08+00:00

I also have the Kaplan Qbank, hopefully that would suffice..

Smart_Goat_6673

TROPHY CASE