Series 7 Exam For Dummies [Paperback]

Steven M. Rice (Author)

Book Description

ISBN-10: 0470099321 | ISBN-13: 978-0470099322 | Publication Date: April 9, 2007

In order to become a stockbroker and sell securities, you must first pass the Series 7 exam—a 6-hour, 250-question monstrosity. Unlike many standardized tests, the Series 7 exam is harder than it seems, and people who score below 70% must retake the test, having to wait at least a month before retaking it and paying hefty registration fees.

Luckily, there’s Series 7 Exam For Dummies—the perfect guide that not only shows you how to think like a financial advisor but also like the test designers. Rather than an all-encompassing, comprehensive textbook, this guide covers only what’s on the test, offering formulas, tips, and basic info you need to study. It empowers you with the ability to think each problem through and get to the bottom of what’s being asked, providing you with everything you need and want to know about:

• Distribution of profits
• Types of securities offerings
• Investing in all types of stock
• Bond types, prices, yields, and risks
• Handling margin accounts
• Characteristics of different investment companies
• Direct Participation Programs and other types of partnerships
• Option selling, buying, and trading
• Security analysis and security markets

Packed with valuable information and know-how, this no-nonsense guide provides a full-length practice exam with answers and explanations. A bonus CD with another simulated practice test is also included. Whether you’re preparing to take the test for the first time or the fourth time, Series 7 For Dummies is the book for you!

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Editorial Reviews

From the Back Cover

Reviews key exam topics — from underwriting to options to analyzing risk

The fun and easy way to pass the Series 7 exam and get your license

Planning to take the Series 7? This plain-English guide is packed with tips and tricks for studying smart and improving your score. You'll see how to break down questions to understand what they're really asking and practice with two complete exams — one in the book and a different one on CD that emulates the electronic format of the actual test!

• Manage your study time wisely
• Know what to expect on exam day
• Understand the computerized format
• Answer specific question types
• Think like a financial advisor
• Avoid common exam traps

About the Author

Steven M. Rice is a partner and educator in the Empire Stockbroker Training Institute, one of the largest and most successful securities training schools in the country.

Product Details

• Paperback: 384 pages
• Publisher: For Dummies (April 9, 2007)
• Language: English
• ISBN-10: 0470099321
• ISBN-13: 978-0470099322
• Product Dimensions: 8.3 x 0.9 x 10.9 inches
• Shipping Weight: 1.5 pounds (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (43 customer reviews)
• Amazon Best Sellers Rank: #4,304 in Books (See Top 100 in Books)
  • #6 in Books > Education & Reference > Education > Test Guides - Graduate & Professional > Professional
  • #13 in Books > Education & Reference > Education > Testing
  • #23 in Books > Education & Reference > Education > Study Guides

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Customer Reviews

Most Helpful Customer Reviews

51 of 51 people found the following review helpful:

5.0 out of 5 stars Must have book for taking the 7, September 10, 2007

By 

Joseph Won "cooking club" - See all my reviews
(REAL NAME)   

This review is from: Series 7 Exam For Dummies (Paperback)

Don't get this book for use as your single source of study. For that matter, don't use any one book as your single source to prepare for this exhaustive exam. But do get this book to help you get an understanding of the concepts and build a basis for your studying. The book approaches all of the main topics of study in such a common sense and easy to understand way. I would and have recommended this book to everyone I know taking this exam. Okay, my recommendation is meaningless without results right? Well I took the exam just this morning for the first time ever and scored an 80. This book was a big part of that outcome. The exam on the CD is a bit easier than others but mirrored the actual exam and my score very closely.

40 of 41 people found the following review helpful:

4.0 out of 5 stars Series 7 timeline, September 6, 2008

By 

Ben Weintraub (Oregon) - See all my reviews
(REAL NAME)   

This review is from: Series 7 Exam For Dummies (Paperback)

I just passed my Series 7 exam a few days ago, and it sure does feel good to have that behind me! I'll try and provide an accurate time line along with any details I can remember:

I started studying in late June. I bought this Dummies book, Pass the 7, and attended a Kaplan week-long class 10 days before the test. I think the Dummies book is a good start, but definitely not the end! I would recommend starting with that book because it is an easy read (I read it in two days!) Then I read the Pass the 7 book, which is a little deeper and much longer. These two books together work great!

I then took the Kaplan course which helped me a bit more. I think I was definitely the most prepared coming into and going out of the class.
Probably the BEST thing I got was a Kaplan CD FULL of questions. I probably took 15-20, 125 question tests in 10 days. This is what sealed the deal for me.

I was getting anywhere between 72-76% consistently, which left me a little worried because most people say you should be getting 80-85%.

Then came test day: I did very, very light studying on test day. I figured I wouldn't learn anything in the last hour I hadn't been able to figure out in the last 6-8 weeks. I got into the test and finished the first half at about my normal practice test speed: 50 minutes. I took the required 30 minute break plus a small 5 minute break right before that (oops!) I got back into the test after the break and continued at my usual pace. I felt pretty calm the entire time. Until the final button had to be pressed: Are you sure you are finished? 'Yes.'

I had put in earplugs because the girl next to me was taking the GMAT, I think, which requires typing. My heart was racing. You know when a cop pulls up behind and turns on the lights to pull you over? This was at least twice as intense waiting for the score!

Well, it turns out I got an 86%! Wow! I was so surprised!

20 of 21 people found the following review helpful:

5.0 out of 5 stars Well Thought Out, May 3, 2007

By 

G. Johnson "Stock and Bond Guy" (Orlando, FL) - See all my reviews

This review is from: Series 7 Exam For Dummies (Paperback)

This book gives you information that a lot of other books don't. The study techniques were great as well as what you can expect on the test day. The option's section was excellent! I was having a lot of problems with options before I learned the Dummies way. The book was was written in very simple terms. Great buy for anyone taking the Series 7.