Customer Reviews

NASD Stockbroker Series 7 Exam: Preparation Guide (Compass Learning System)

5 star:		(3)
4 star:		(2)
3 star:		(0)
2 star:		(0)
1 star:		(1)

 

 

This book was very helpful in preparing for the Series 7. My employer is providing a more detailed and comprehensive study program, but this book was a very nice additional prep guide. It covers the material that will be tested, has practice exams, and helpful tips for the test itself. I'm glad I bought it.

I used this book as a supplement to an online course, to fill gaps and to obtain a different prospective on the subject matter. I loved that it has no "water" in it, rather it is straight to the point, reducing study time, with great "Exam Topic" alerts and an excellent post-chapter summaries, which I used for the "morning of", last minute refresher. The books has good graphics, charts, appropriately used highlights (for good layout and text flow), making studying a breeze. I passed after 20 days of studying with 89% (possibility of attaining the same result is not implied or guaranteed hereby :) .)

Generally good book, but be careful of errors. There are a number of errors in the text and in exam questions, for instance question 224 (exam 1), answer given is A, but correct answer is C by its own description.

I hope this wasn't a real test at one point.....

Errors in text as well.....
Example: Stop Limit Orders become Limit orders, not stop orders. i.e. will never become market orders....See SEC definition.

The book should prepare you to get UP TO 60% score on your Series 7 exam.
The author cannot even properly explain the simplest 101 concepts, such as what a "Stop Limit Order" is or how index options work.
There are plenty of inaccuracies, vague explanations and knowledge gaps.
After having read the book twice, I took a couple serious practice tests (not from this book) only to realize that I have not learned nearly enough to pass the exam effortlessly.
Buying this book was a waste of money and reading it - a waste of time.

This guide provided me with a lot of useful information, however, there are some things on the test that could not be answered from this guide. I really like how options and bonds are documented. However, I did not like how market regulations and account set-ups are documented. Good luck if you're testing!

I passed this exam after studying with only this book. There were a few errors in it, and some of the information is slightly out-of-date (e.g., the IRA contribution limits listed are a few years out of date). Overall, however, I found it to be very useful and well-organized.