Taking the Series 7 test on Tuesday...

eidolon · 07-26-10, 12:54 AM

accounting?

DiggityDaggityDo · 07-26-10, 01:05 AM

What is a Series 7 test?

flyingillini · 07-26-10, 01:07 AM

My brother passed it. He was 2 out of 55 that passed it. He is not a multi multi multi...got in with all the bay area .com companies before the collapse. Good job!

anthonydiamondLC · 07-26-10, 01:18 AM

Originally posted by flyingillini

My brother passed it. He was 2 out of 55 that passed it. He is not a multi multi multi...got in with all the bay area .com companies before the collapse. Good job!

2 of 55? the pass rate of seen on this exam is 65-70%.

flyingillini · 07-26-10, 01:21 AM

well this was his class and when he took it. It was in the late 80s, in Austin.

anthonydiamondLC · 07-26-10, 01:24 AM

This test is a bitch, but gives you the opportunity to make a lot of money.

rfr3sh · 07-26-10, 01:25 AM

what is it exactly

anthonydiamondLC · 07-26-10, 01:33 AM

Its the test you need to pass to become a stock broker

flyingillini · 07-26-10, 01:45 AM

This test changed his life completely. He is living the life of what a lot of people dream about.

anthonydiamondLC · 07-26-10, 01:47 AM

Thanks Illini like I didn't have enough pressure on me to pass this test!

eidolon · 07-26-10, 02:35 AM

can anyone take the test? or is it like the BAR?

TheLock · 07-26-10, 02:37 AM

Ah, it's been a while since I heard the words, "Series Seven'".

rookie · 07-26-10, 02:54 AM

Originally posted by anthonydiamondLC

Thanks Illini like I didn't have enough pressure on me to pass this test!

Just passing the test does not automatically change life in a big way. Now, do you feel less pressure ? All the best.

chachi · 07-26-10, 03:39 AM

Passing the tests simply means you will no longer have any quality of life

I had to sit the Series 3 and its UK equivalent, and then the Series 7 and its UK equivalent a few years back before I walked away from the industry.

I did a few review courses, about a dozen mock test sessions, and it ended up not being nearly as scary or difficult as I feared.

Total of 4 wrong answers 1 on each and was first one done in my group each time by nearly 20 mins

BEST OF LUCK WITH YOUR RESULT!

BurtRapp · 07-26-10, 04:00 AM

keep pushing Wobistics.

chachi · 07-27-10, 01:24 AM

Do let us know how you get on

anthonydiamondLC · 07-27-10, 05:37 AM

Well boys I'm about to leave now to take my test. I feel like a pitcher getting the ball in a game 7. Gotta get this done and as Sammy tells us, "DO WORK."

DeluxeLiner · 07-27-10, 05:43 AM

best of luck! where'd you go to school?

jjgold · 07-27-10, 05:44 AM

Best of luck guy

Hope you pass it, if not you got us here to console you.

chachi · 07-27-10, 05:53 AM

Should be ok if he's prepared as he says.

It is not that difficult really just rote memorization and common sense in a lot of cases ... as in:

Market is 32 / 34 ... customer wants to buy, do you:

a) try to buy at 32 or 33 for the firm and then sell at 34 to the customer

b) buy at 34 for the firm and sell at 35 to the customer telling him he missed the 34's

c) tap another pit broker on the shoulder to do it and take a tick as a backhander

d) buy at 34 for the customer and allocate them to their account

---

D is the answer they would want to hear

B and C are illegal, B for selling at a fictitious above-market price that did not trade and C for obvious reasons.

A is legally permissible but nobody would answer the question that way to regulators

anthonydiamondLC · 07-27-10, 01:04 PM

I PASSED!!!!!!!!!!!!!!!!! got a 79!!!!!!!!!!!!!!!!!!!!!!!!!!!

chachi · 07-27-10, 01:13 PM

Well done ... have 2 on me

anthonydiamondLC · 07-27-10, 01:22 PM

haha thanks chachi!

chachi · 07-27-10, 01:53 PM

No worries ... take a deep breath and enjoy the rest of your day.

Now that you're qualified, life as you know it at work ends today

freeVICK · 07-27-10, 02:06 PM

horrible time to become a broker. companies have no money, not hiring

milwaukee mike · 07-27-10, 02:31 PM

nice work

you get the results that quickly?

chachi · 07-27-10, 02:35 PM

Yes its all computerized ... you have your score when you walk out (or at least I did as did my mate)

pavyracer · 07-27-10, 02:37 PM

Originally posted by milwaukee mike

nice work

you get the results that quickly?

Good question. I doubt the exam is over yet let alone have it graded already. The exam is 6 hours long.

anthonydiamondLC · 07-27-10, 04:29 PM

You guys are funny. For anyone that knows anything about the series 7 you take the test on a computer and its all multiple choice. When your done after both 3 hour sessions you click finish and the computer shortly there after spits out your score. Also the maximum amount of time given for the exam is 6 hours, however if you are done earlier you don't have to wait around, you click finish and hold your breath for the longest 30 seconds you will ever have to wait.