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Finra Series-7 Exam Questions
- Topic 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers: This section covers the candidate’s ability to generate business for a broker-dealer by contacting and engaging with current and potential customers using various methods such as in-person interactions, telephone, mail, and electronic communications. It also reviews the candidate’s understanding of marketing requirements, regulatory standards for public communications, and the proper handling of promotional materials. This section of the exam measures the abilities of sales professionals in generating business for broker-dealers.
- Topic 2: Function 2: Opens Accounts After Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives: In this section, the exam evaluates how candidates gather and assess customer information to open accounts. It focuses on understanding different account types, the documentation required for account registration, and the process of updating customer financial profiles and legal documents. The material emphasizes regulatory disclosures and procedures for handling retirement plans and tax-advantaged accounts. This section assesses the capabilities of client account managers in understanding and evaluating customers' financial needs.
- Topic 3: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records: This part of the exam tests a candidate’s proficiency in advising clients by providing detailed information on investment strategies, risks, and rewards. It reviews fundamental and technical analysis, portfolio management principles, and the communication of market trends and investment performance. Additionally, it covers the importance of proper recordkeeping and the disclosure of investment risks and costs. This section evaluates the expertise of investment advisors in communicating and managing customer investments.
- Topic 4: Obtains and Verifies Customers’ Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions: This section focuses on the operational aspects of executing customer transactions. It examines the candidate’s knowledge of order types, trade execution, and the processing of purchase and sale instructions. It also includes an overview of margin account requirements, order confirmation procedures, and the resolution of discrepancies or disputes. This section tests the proficiency of trading operations specialists in processing and verifying transactions.
Free Finra Series-7 Exam Actual Questions
Note: Premium Questions for Series-7 were last updated On Mar. 17, 2026 (see below)
To accommodate a customer's order to buy an over-the-counter stock, a broker/dealer is permitted to:
all of the above. All of the choices are normal ways for the broker to fill the customer's order.
Regulation T is set at 50%. Bubba's account contains long positions in the following securities with the prices listed:
100 ABC $30
200 XYZ $70
200 QBB $40
200 KKK $25
Total market value = $30,000
Debit balance in the account = $12,000
Net equity balance of the account = $18,000
If Bubba wants to buy 100 shares of DUM at $30 per share, how much additional money must be deposited?
$0. The cost of Bubba's purchase is $3,000 (100 x $30). But Reg T only requires 50% in Bubba's account and he has that.
Which of the following is not in the subscription agreement for a limited partnership offering?
granting of power of attorney to the limited partners. The other three choices are in the subscription agreement. Power of attorney is granted to the general partner, not the limited partners.
Which of the following is not a practice of a mutual fund custodian?
lending the fund's securities to banks or broker/dealers. This practice is not permitted under federal law.
Bubba buys a municipal bond at 102 and holds it ten years to maturity.
For tax purposes, how is that premium treated?
amortized over the life of the bond resulting in no loss at maturity. For tax purposes, premiums are amortized over the life of the bond. Some amount is taken each year.
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