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The Series 7 exam — the General Securities Representative Qualification Examination (GS) — assesses the competency of an entry-level registered representative to perform their job as a general securities representative.
FINRA may grant waivers, in exceptional cases, or exemptions for qualification exams, pursuant to FINRA Rule 1210.3, FINRA Rule 1220 and Rule 9600 Series, and accept other standards as evidence of an applicant’s qualification for registration, such as experience in the securities industry, educational achievement, or qualification by a ...
Series 7 exam seeks to measure the degree to which each candidate possesses the knowledge, skills and abilities needed to perform the critical functions of a General Securities Registered Representative.
Series 7 registered representatives are not required to register under Series 55 as equity traders based solely on the fact that they perform the clerical function of entering customer phone orders into the same routing system that customers could use to enter orders electronically.
The following FAQ on FINRA.org pertain to Qualification Exams: Frequently Asked Questions Regarding Qualification Exams. Frequently Asked Questions Regarding Qualification and Registration Requirements. Frequently Asked Questions Regarding the SIE and Exam Restructuring.
To obtain a CR registration, individuals are required to 1) pass the Compliance Official Exam (Series 14) or 2) pass the SIE, the General Securities Representative Exam (Series 7) and the General Securities Principal Exam (Series 24).
Once you are registered or employed by a firm, you must comply with FINRA rules, federal and state securities regulations, and your firm’s policies to maintain your registration. FINRA provides guidance on the proper conduct of a registered representative, as well as information on your responsibilities to your firm and clients.
FINRA’s Maintaining Qualifications Program (MQP) allows eligible individuals to maintain their qualifications for up to five years by completing continuing education (CE) annually. Program dates and details are provided on the page below.
The Series 7 Examination is the General Securities Representative Qualification Examination. The examination is developed and maintained by the Financial Industry Regulatory Authority (FINRA). This content outline provides a comprehensive guide to the topics covered on the General Securities Representative Qualification Examination (Series 7).
In conjunction with other self-regulatory organizations and the Securities Industry/Regulatory Council on Continuing Education, FINRA administers the continuing education (CE) program for the securities industry. CE consists of two mandatory programs: the Regulatory Element and the Firm Element.