Finra Series-7 Exam Topics
Finra Series-7 Exam Overview :
| Exam Name: | General Securities Representative ination (GS) |
| Exam Code: | Series-7 |
| Certifications: | Finra General Securities Representative Certification |
| Actual Exam Duration: | 360 minutes |
| Expected no. of Questions in Actual Exam: | 249 |
| See Expected Questions: | Finra Series-7 Expected Questions in Actual Exam |
Finra Series-7 Exam Objectives :
| Section | Objectives |
|---|---|
| Function 1: Seeks Business for the Broker-Dealer fromCustomers and Potential Customers | 1.1 Contacts current and potential customers in person and by telephone, mail and electronic means;develops promotional and advertising materialsand seeks appropriate approvalsto distribute marketingmaterials 1.2 Describes investment products and services to current and potential customers with the intent of soliciting business |
| Function 2: Opens Accounts AfterObtaining and Evaluating Customers’ Financial Profileand Investment Objectives | 2.1 Informs customers of the types of accounts and provides disclosures regarding various account types and restrictions 2.2 Obtainsand updates customer information and documentation, including requiredlegal documents and identifiesand escalates suspicious activity 2.3 Makes reasonable efforts to obtain customer investment profile information including, but not limited to, the customer's other security holdings, financial situation and needs, tax status and investment objectives 2.4 Obtains supervisory approvals required to open accounts |
| Function 3: Provides Customers with Information AboutInvestments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records | 3.1 Provides customers with information aboutinvestment strategies, risks and rewards, and communicates relevant market, investment and research data to customers 3.2 Reviews and analyzes customers' investment profiles and product options to determine thatinvestmentrecommendationsmeet applicable standards 3.3 Provides requireddisclosures regardinginvestment productsand their characteristics, risks, servicesand expenses 3.4 Communicates with customersaboutaccount information, processes requests and retains documentation |
| Function 4: Obtains and Verifies Customers’ Purchase and Sales Instructionsand Agreements; Processes, Completes and Confirms Transactions | 4.1 Providescurrent quotes 4.2 Processes and confirms customers’ transactions pursuant to regulatory requirements and informs customers of delivery obligations and settlement procedures 4.3 Informs the appropriate supervisor and assists in the resolution of discrepancies, disputes, errors and complaints 4.4 Addresses margin issues |
| Official Information | https://www.finra.org/registration-exams-ce/qualification-exams/series7 |
Updates in the Finra Series-7 Exam Topics:
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