The Series 7 exam costs $300, and the accompanying SIE exam costs $80. To get a Series 7 license for buying, selling, or trading securities, you must pass both exams as required by FINRA.

Additionally, you may want to spend more to hire a private Series 7 tutor, enroll in online prep courses, or purchase self-study materials to improve your chances of passing the test on the first attempt.

The Series 7 exam is 3 hours and 45 minutes long. The test is divided into 4 sections, with breaks available.

The Series 7 exam is considered one of the hardest securities exams because it covers a wide range of financial concepts. To do well, you need to understand securities regulations, different investment products, and how the market works. You also have to apply your knowledge to real-world situations.

Test takers need to demonstrate their ability to apply financial concepts in real-world scenarios. This emphasis on practical skills means the test isn’t about memorizing facts, but about truly comprehending and applying the financial knowledge in challenging situations.

The Series 7 and the bar exam are both known to be difficult exams. Comparing the two exams is like comparing apples and oranges because these tests assess knowledge and skills in different fields. The Series 7 exam focuses on financial concepts, securities regulations, and market structures. In contrast, the bar exam evaluates knowledge of legal principles and ability to apply them.

Both exams are known for their level of difficulty. Success in either exam requires rigorous study and preparation and a deep understanding of the relevant subject matter.

To take the Series 7 exam, you need a college degree, preferably in finance, in order to get a job or internship in a firm that can sponsor you to take the test. To sign up for FINRA qualifying exams, you need a sponsor from a state regulator or an approved regulatory authority. Once FINRA gets your eligibility details from the sponsor, they will send you an email with instructions on how to enroll.

The Series 7 exam is administered by FINRA (Financial Industry Regulatory Authority) via Prometric, a global testing organization. Prometric test centers are located throughout the United States and in other countries. You can find a list of test centers on the Prometric website.

Rescheduling or canceling an appointment is free of charge if done well in advance. However, if you cancel your exam too close to the scheduled date or miss your appointment altogether, you will be charged a penalty fee. Please refer to FINRA's cancellation policy for more details.

While you are employed by a FINRA-registered firm, your Series 7 license will remain valid indefinitely. However, if you are terminated from your job at a FINRA-registered firm, your license will remain valid for two years after the termination date.

You can extend the validity of your Series 7 license for up to five years beyond the termination date by participating in the Maintaining Qualifications Program (MQP) and completing annual continuing education (CE) requirements.