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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 Apr. 11, 2025 (see below)
A mutual fund letter of intent may permissibly be predated for a period of time up to:
90 calendar days. An investor has 90 days from the date of original purchase to sign a letter of intent. The maximum duration for the letter is 13 months from the initial purchase.
An excerpt from a recent tombstone ad reveals bonds offered publicly at 101.
Why were they priced at a premium?
to reflect prevailing credit ratings and market conditions for the issuer. Premiums or discounts are used in bond offerings to bring the yield in line with current market conditions.
The net investment income of an open-end investment company represents:
net income from dividends and interest paid on securities in the fund's portfolio. Net investment income is dividends and interest but not capital gains.
A stock with a current P/E of 17 is selling at $74.50 per share.
What are the company's earnings in the trailing 12 months?
about $4.28. Divide the market price by the P/E.
Which of the following activities by a limited partner may subject the partner to unlimited liability?
all of the above. Each of these actions by a limited partner causes the loss of limited liability.
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