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The wisebeaver www.wisebeaver.com study website provides detailed exam questions similar to the actual NASD SERIES 7 exam. The series 7exam is designed to quiz one on skills as a general securities representative. There are basically 5 types of questions within the NASD Series 7 Exam. One must not only have the knowledge to pass various types of questions, but be able to effectively understand the type of question being asked and the format.
Here is an example of some of the types of questions found on the NASD Series 7 Exam:
1. The Incomplete Sentence Format:
2. Closed Stem Format In this format, you must select the best possible response.
3. The EXCEPT Format: This format requires you to select the one incorrect response from among the choices presented.
4. The Least / Most / Best Format: This type of questions requires you to select an item that is either better or worse than the others.
5. Roman Numeral Format: This type requires determining the proper sequence or ranking of a set of items or when there is more than one correct response.
For detailed examples of these types of questions please see NASD Series 7 Exam question types
The series 7 exam is broken down into many fundamental areas The NASD deems as significant in the securities industry.
The following illustrates a rough break down of the number of questions per area on the exam.
APPROXIMATE NUMBER OF QUESTIONS PER SUBJECT
MUNICIPAL SECURITIES (50)- Types of Municipal Securities, Primary and Secondary Market, MSRB Rules.
OPTIONS (50)- Strategies and Product Knowledge.
NEW YORK STOCK EXCHANGE (15)- Types of Orders, Floor Procedures, Tape Reading.
CUSTOMER ACCOUNTS (15)- Opening and Maintaining Customer Accounts.
REGULATIONS (15)- Securities Acts, NASD Rules.
DIRECT PARTICIPATION PROGRAMS (15)- Formation and Regulation, Types of Programs.
CORPORATE SECURITIES (15)- Common and Preferred Stock, Corporate Bonds.
PACKAGED SECURITIES (20)- Mutual Funds, Variable Annuities, REITs.
SECURITIES AND ECONOMIC ANALYSIS (15)- Technical and Fundamental Analysis, Economics.
U.S. GOVERNMENT SECURITIES (15)- Treasury and Agency Securities, CMOs.
MARGIN (10)- Regulations, Formulas and Computations.
TAXATION AND RETIREMENT PLANS (15)- Taxation of Securities, Qualified and Non-qualified Plans.
TOTAL QUESTIONS 250
As you can see options, and municipal securities are heavily weighted on the exam at roughly 50 questions each. Others areas weigh in at roughly 15 question per each other category. The Wisebeaver www.wisebeaver.com study website provides Focus on those areas that are crucial to passing the exam
Statistics show that people often end up taking the NASD series 7 exam a second time because they do not pass the first time. The wisebeaver website www.wisebeaver.com goal is to help you pass
When taking the series 7 exam it is essential that one fine tune those areas where their is weakness. The National Association of Securities Dealers http//www.nasd.com. Has an excellent pdf study guidge those taking the Series 7 should download NASD Website
NASD SERIES 7 EXAM RESOURCE WEBSITES
WHAT TO EXPECT ON THE NASD SERIES 7 TEST
EXAMPLES OF NASD SERIES 7 EXAM QUESTIONS
THE NASD SERIES 7 EXAM
INVESTMENT RESOURCE GUIDE
CONTACT WISE BEAVER NASD SERIES 7 STUDY WEBSITE