Series 7 Practice Test

125 questions100 minutesDetailed explanationsInstant scoring

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About the Real Series 7 Exam

The Series 7 (General Securities Representative Exam) is a FINRA-administered licensing exam required to sell most types of securities in the United States. Passing the Series 7 allows you to trade stocks, bonds, options, mutual funds, and other securities.

Our Series 7 Practice Test

Our Series 7 practice test contains 125 original questions covering all major content areas of the Series 7 exam, including securities products, trading, customer accounts, and regulations.

What to Expect

Equity and Debt Securities: Stocks, bonds, and their characteristics.
Investment Company Products: Mutual funds, ETFs, and variable annuities.
Options: Calls, puts, strategies, and options pricing.
Customer Accounts: Account types, suitability, and margin requirements.
Securities Regulations: SEC rules, FINRA regulations, and compliance.
Every question includes a detailed explanation of the relevant securities concepts.

Try a Sample Question

Series 7 — Sample

A registered representative (RR) plans to send an email to 30 potential new clients describing the benefits of a specific mutual fund offered by their broker-dealer. According to FINRA rules, what action must the RR take *prior* to sending this communication?

A Obtain prior written approval from a qualified principal of the broker-dealer.

B Ensure the communication is filed with FINRA within 10 business days of its first use.

C Include a prominent disclosure that the email is for informational purposes only and not an offer to sell.

D Verify that each recipient has previously opted in to receive marketing communications.

Explanation. The correct answer is to obtain prior written approval from a qualified principal of the broker-dealer. According to FINRA Rule 2210, any communication sent to more than 25 retail investors within a 30-day calendar period is classified as a "retail communication." Retail communications, which include emails like the one described, must be approved by a qualified principal of the firm *before* thei

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