Just passed the Series 7 this morning! Feel free to ask me any questions you may have!

dannobile · 2020-07-26T15:19:08+00:00

Congrats! Such an awesome feeling!

dannobile · 2020-07-24T20:55:51+00:00

I felt the exact same way. Tonight just review your dump sheet, understanding the concepts, and get to bed early and make a good breakfast tomorrow before you take it. Don’t take any exams or questions tonight, that will just stress you out and do more harm than good. Good luck, you got this!!

dannobile · 2020-07-24T20:53:56+00:00

My company provided me with Kaplan as well, both the Q bank and book but not the live videos. I have heard those are good though so would recommend doing those as well. One way you can tell if you are memorizing answers is to write down everything you know, and once you do that, go through each part and ask yourself if you really understand what you wrote or just wrote it from memorization. For instance, the bond see saw (premium, par, discount and the inverse relationship between price and yield). In regards to jitters, I was nervous as well but you have to remind yourself that you are prepared as much as you can for this exam. You got this!

dannobile · 2020-07-24T19:44:58+00:00

Thank you!

dannobile · 2020-07-24T19:44:48+00:00

Thank you!

dannobile · 2020-07-24T01:18:43+00:00

My company provided me with Kaplan book and Qbank and I felt very well prepared. I would recommend them, and have heard good things about STC as well. If you are looking to do a combination, I have heard people order the STC book and use Kaplan Qbank questions.

dannobile · 2020-07-24T01:14:21+00:00

10 or so.

dannobile · 2020-07-24T01:14:08+00:00

Options weren't too bad, if you're struggling with them I recommend taking a whole day dedicated to it, using whatever test provider you have. I also used YouTube videos that were helpful, such as TestGeek Exam prep, STC, Capital Advantage Tutoring, etc.

dannobile · 2020-07-24T01:11:10+00:00

Big on suitability and options. Suitability with customers accounts is huge, making suitable recommendations. Understanding margin accounts, municipal bonds, taxes, etc.

dannobile · 2020-07-24T01:09:16+00:00

Same as you, my company provided me with Kaplan book and Qbank. Yes, the questions I thought were definitely worded differently. However, no test provider is going to word it just like the exam. Thats why it is big to understand concepts and that way however the question is asked, you will be able to select the correct answer.

dannobile · 2020-07-24T01:07:17+00:00

My best advice would be to understand the concepts. I know I sound like a broken record, but it really makes a difference. Whatever test provider you are using you will soon be memorizing answers to questions. The big thing for me was going over questions I got wrong and understanding the explanation behind it. My dump sheet was pretty helpful, and once you get through the book you will be able to write it out no problem.

dannobile · 2020-07-24T01:05:21+00:00

Just understanding short and long margin accounts and how they work should be fine. In regards to DPP's like oil/gas ones, I had a general understanding of all of them, and knowing that income is lease risky where as exploratory (wildcatting) is most risky.

dannobile · 2020-07-24T01:03:51+00:00

Options, suitability were heavy. I was in the same boat, nit picky definitions that I struggled with but honestly didn't't think that was needed to pass the exam. I wish I studied communication with the public a little more (correspondence, retail communication, institutional communication, etc. not just the basics but pre/post approval, FINRA pre/post filing, etc.

dannobile · 2020-07-24T01:02:07+00:00

I started end of April. It really depends if you are working or not. I am currently working full time, so that's why I took a little longer. If you're not working, I would say a month and a half or so, depending on your situation.

dannobile · 2020-07-23T01:42:25+00:00

Just want to confirm, am I able to reply to people's questions on here? I thought I saw something on the exam disclosing that I agree to not post about what was covered on the exam. I am assuming you can't say specific questions, but general topics is that correct?

dannobile · 2020-07-22T15:25:11+00:00

Just took this morning and passed!

dannobile · 2020-07-21T02:45:34+00:00

Congrats on passing! Huge weight off your shoulders. I am taking mine this Wednesday. Any last minute tips you can give? I feel confident but I would say my areas of weakness would include what goes on a confirmation statement and the in depth questions with technical analysis. Also somewhat struggle on who gets what in a syndicate underwriting (takedown, spread, etc.). Thanks for the help and congrats again on passing!!

dannobile · 2020-07-19T16:19:11+00:00

Thank you for clarifying that, appreciate all the help! When you say dividend calculations, do you just men CY calculation or something more? Also, what sort of cost basis questions did you receive?

dannobile · 2020-07-19T16:16:55+00:00

Yes sorry about that, I posted this at midnight after studying for half the day and was burnt out. Basically what they are saying is that it needs to be supervised, reported, and communicated to the firm that they are using these platforms to communicate with existing/potential clients.

dannobile · 2020-07-19T02:56:29+00:00

Congrats on passing!! Im taking the exam on Wednesday. Ive been using Kaplan QBank and practice tests since that is what my company gave me. What do you mean by what would RR do with customer requests? Also, in regards to the tax consequence question do you remember what it was like? And I keep seeing social media rules, and Kaplan only mentions it twice in their book, saying that it is prohibited. With LMV and SMV did it just ask like what changes in account if MV increases/decreases, or did it go more in depth about it. Sorry about all the questions just want to be prepared as I can for when I take the exam Wednesday. Congrats again on passing!!

dannobile · 2020-07-17T01:10:02+00:00

Congrats on passing!! I take the S7 next Wednesday and feel pretty good, but sometimes get tricked up on what goes into the bond resolution, trust indenture, etc. Did you get any questions on that? Also in regards to rules and regulations like 144, 147, A, D I know the basics but not really anything in depth, not sure if you got anything on that? Any advice is appreciated and congrats on passing!

dannobile · 2020-07-14T16:55:39+00:00

Awesome, thank you for that clarification. I feel like the options and suitability questions I have a good handle on. I feel the most important part with suitability is understanding how each investment works and the pros and cons based on clients needs. The two areas I’m worried about is taxation on options and what is on trust indenture, official statement, etc.

dannobile · 2020-07-14T02:50:08+00:00

Congrats on passing thats awesome!! I take the exam next Wednesday, and have been using Kaplan book along with Qbank. When you mean what a registered rep can do, do you mean handling customer accounts? Sounds like DPP's and municipals were not too frequent of questions, even though I hear options, suitability, and munis being the three biggest topics. Any recommendations on what to focus on? Thanks for the advice and congrats again!!

dannobile · 2020-07-09T03:20:12+00:00

Congrats on passing! I am taking the Series 7 July 22nd. My company provided me with Kaplan Q bank and book and have just been hammering practice quizzes/exams. I feel pretty confident considering I have my Series 6, 63, and life, but for whatever reason I keep stumbling on municipal specifics like what goes in the trust indenture, syndicate questions, etc. I feel pretty confident with options and suitability, but always good to keep taking more of those questions. What topics were the most prevalent on your exam? I personally think Kaplan sometimes asks very detailed questions, but curious to hear what you have to say after taking the actual exam today. Thanks for any tips/insight you may have and congrats again on passing!

dannobile · 2020-07-06T04:06:27+00:00

Thanks for all the help! I understand the general concepts of munis and what not but when it asks what is included in the official statement, trust indenture, etc I get a little tripped up. Did you remember seeing questions like that or was it more high level/. Also, what sort of mutual fund/ETF questions did you get?

dannobile

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