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FINRA Series7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives | 9% | - Suitability rules and regulatory compliance - Financial profile, risk tolerance, and investment objectives - Account types and documentation requirements |
| Topic 2: Provides Customers with Information about Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Investment companies, ETFs, and variable annuities - Recordkeeping and regulatory reporting - Municipal securities - Margin accounts and taxation - Direct participation programs - Debt securities and government obligations - Equity securities - Options and derivative products |
| Topic 3: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 7% | - Standards for advertising and public communications - Product-specific disclosures and regulatory requirements - Customer communication and solicitation rules |
| Topic 4: Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions | 11% | - Trade settlement and confirmation rules - Order types and execution procedures - Regulatory requirements for transaction processing |
FINRA General Securities Representative Examination (GS) Sample Questions:
1. Which of the following types of investment companies pays out 90% of its net investment income to
shareholders?
A) regulated
B) registered
C) balanced
D) diversified
2. The return by the receiving party of securities previously accepted for delivery or a demand by the
delivering party for return of securities that have been delivered is called:
A) rejection
B) close-out
C) re-delivery
D) reclamation
3. The general purpose of the Securities Act of 1933 is to:
A) regulate the activities of investment advisers
B) provide for disclosure of the financial condition of underwriters
C) regulate the sale of securities on national exchanges
D) provide for disclosure of information about new securities offerings
4. Bubba buys a bond issued at par with a 5% coupon that is convertible into common stock at $40. The
bond increases in value by 20 points. What is the conversion parity of the stock?
A) $25
B) $50
C) $40
D) $48
5. If the Federal Reserve wished to ease credit, which of the following steps would it take?
A) lower reserve requirements
B) purchase securities in the open market
C) both B and C
D) raise the discount rate
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |
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