Series 7 Exam

Series 7 Study Guide Navigation Processing and confirming customers’ transactions according to the requirements as set out by regulations. Provides customers with details of delivery obligations as well as settlement procedures The securities industry does its utmost to protect investors. To help accomplish this, there are numerous regulatory procedures that govern the trading of securities, … Read more

Series 7 Study Guide Navigation Part of the tasks of a registered representative will involve entering orders for customers. This means that not only should they understand the various types of orders but also how they are to be applied when called upon to carry out this task. But there’s more that they need to … Read more

Series 7 Study Guide Navigation Communications with customers covering their accounts, the processing of customer requests, and document retention There’s no denying that keeping accurate records in just about every aspect is a critical part of the daily workings of a broker-dealer. Of course, we immediately think of the details of the transactions they make … Read more

Series 7 Study Guide Navigation Give clients information regarding disclosures linked to the different characteristics of various investment products, the risks associated with them as well as the services offered and expenses charged In this section of Module 3, we are specifically looking at how registered representatives must provide clients with various critical pieces of … Read more

Series 7 Study Guide Navigation Analyze customer’s portfolio of investments as well as product options to work out if recommended investments are of an applicable standard Registered representatives are tasked with making suitable investment suggestions to their clients. But they also have to advise clients by providing them with information that’s appropriate to their investment … Read more

Series 7 Study Guide Navigation Passing on investment strategy information to customers, informing them of risks and rewards as well as communicating research, market, and investment data Studying a client’s investment portfolio and analyzing accounts is an essential part of the work a registered representative does. That’s because, by doing so, the right products can … Read more

Series 7 Study Guide Navigation When it comes to opening accounts for natural persons, what are the legal requirements? Well, there is a process that needs to be followed. That process starts with a new account form. Member firms must create a separate record for each account as stipulated by FINRA Rule 4512. These individual … Read more

Series 7 Study Guide Navigation An effort is made to gather customer investment profile information which includes their financial situation, other securities/assets, investment objects, and tax details. The client’s goals and objectives are something that must be discussed as well. You can start with their investment goals. Remember, the goal is the endpoint and objectives … Read more

Series 7 Study Guide Navigation It’s the know your customer rule (KYC) that is the most important aspect when it comes to suitability. Also known as FINRA 2090, the member firm and associated person dealing with a customer has an obligation to request information from them that will help determine suitability requirements. It’s not easy, … Read more

Series 7 Study Guide Navigation Tells potential customers about the account types available and discloses their restrictions We begin with the different customer accounts available. The most common are: There are others that we will cover too. When we talk about a basic investment account, a cash account immediately springs to mind. That’s because it’s … Read more