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Series 7 Exam For Dummies with Online Practice Tests

Series 7 Exam For Dummies with Online Practice Tests


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About the Book

Maximize your score on the Series 7 Exam The Series 7 exam is a top-off exam taken with the Securities Industry Essentials exam to obtain General Securities Representative registration. This comprehensive guide is the critical reference you need to lead you through your preparation for the Series 7 exam. Packed with the latest information associated with this test, as well as proven test-taking strategies that are focused on maximizing your score, it covers everything you need to know to score your highest on this all-important exam. The Series 7 exam is no joke — with 125 questions administered in three hours and 45 minutes, this test is certainly a challenge. But with the proper preparation you'll be able to enter the exam room with confidence. Offers three full-length practice tests with answers and full explanations Includes one-year access to six full-length tests online Provides strategies and tips to hone the skills needed to ace the exam Gives you confidence to start your career as a licensed broker Series 7 Exam For Dummies, 4th Edition with Online Practice is a fundamental resource that guides you through your preparations for the Series 7 exam.

Table of Contents:
Introduction 1 About This Book 1 Foolish Assumptions 2 Icons Used in This Book 2 Beyond the Book 2 Where to Go from Here 3 Part 1: Gearing Up For the Series 7 Exam 5 Chapter 1: So You Want to Sell Securities: Introducing the Series 7 Exam 7 What Is the Series 7 Exam, Anyway? 7 Profiling the Series 7 Exam-Taker 8 One’s Not Enough: Tackling the Series 63 or Series 66 8 Securing Sponsorship and Signing Up 9 Taking a Peek at the Tested Topics 12 Understanding the Exam Format and Other Exam Details 13 Chapter 2: Preparing for the Series 7 Exam 19 Courses and Training Materials: Determining the Best Way to Study 19 Managing Your Study Time Wisely 22 Exploring Study Strategies 26 Developing Solid Test-Taking Skills 26 Knowing When You’re Ready 30 Chapter 3: Examining and Mastering Question Types 31 Familiarizing Yourself with Question Formats 31 Shredding the Questions: Tips and Tricks 38 Chapter 4: Surviving Test Day 43 Composing Yourself the Day Before 43 Making the Most of the Morning 44 Arriving on the Scene 45 Taking the Exam 46 Getting the Results: Drum Roll Please 47 Part 2: Mastering Basic Security Investments 49 Chapter 5: Underwriting Securities 51 Bringing New Issues to the Market 51 Reviewing Exemptions 61 Chapter 6: Corporate Ownership: Equity Securities 65 Beginning with the Basics: Common Stock 65 Getting Preferential Treatment: Preferred Stock 71 Securities with a Twist 74 Chapter 7: Debt Securities: Corporate and U.S Government Loans 77 Tackling Bond Terms, Types, and Traits 77 Making Basic Bond Price and Yield Calculations 81 Determining the Best Investment: Comparing Bonds 86 Exploring U.S Government Securities 90 Playing It Safe: Short-Term Loans or Money Market Instruments 95 Chapter 8: Municipal Bonds: Local Government Securities 99 General Obligation Bonds: Backing Bonds with Taxes 99 Revenue Bonds: Raising Money for Utilities and Such 103 The Primary Market: Bringing New Municipal Bonds to Market 106 Examining Other Types of Municipal Bonds on the Test 109 Don’t Forget Municipal Notes! 112 Municipal Fund Securities 114 Understanding the Taxes on Municipal Bonds 116 Following Municipal Bond Rules 118 Gathering More Municipal Bond Info 122 Part 3: Delving Deeper Into Security Investments 125 Chapter 9: Borrowing Money and Securities: The Long and Short of Margin Accounts 127 Getting the Paperwork Out of the Way 128 Introducing Long and Short Margin Accounts 128 Playing by the Federal Reserve Board’s Rules 129 Opening a Margin Account: The Initial Requirements 130 Calculating Debit and Equity in Long Margin Accounts 132 Making Short Work of Calculations in Short Margin Accounts 133 Let the Good Times Roll: Handling Excess Equity 135 Looking at Limits When the Market Goes the Wrong Way 140 Chapter 10: Delivering Diversification with Packaged Securities 145 Diversifying through Management Investment Companies 145 Considering Other Investment Company Options 157 Reducing Real Estate Risk with REITs 158 Adding Annuities to a Portfolio 159 Exploring Variable Life and Variable Universal Life Insurance 163 Investment Company Rules 164 Chapter 11: Working with Direct Participation Programs 169 Searching for Identity: What DPPs Are (and Aren’t) 169 The DPP Characters: General and Limited Partners 170 Pushing through Partnership Paperwork 171 Types of DPP Offerings 173 Passive Income and Losses: Looking at Taxes on Partnerships 173 Evaluating Direct Participation Programs 173 Chapter 12: Options: The Right to Buy or Sell at a Fixed Price 179 Brushing Up on Option Basics 179 Incorporating Standard Option Math 184 Mastering Complex Option Calculations 192 Nonequity Options 207 Gaining Additional Option Info 209 Part 4: Taking Care of Your Customers and Playing By The Rules 217 Chapter 13: Doing a Little Market Research: Portfolio and Securities Analysis 219 Knowing Your Customer: Portfolio Analysis 219 Knowing Your Securities and Markets: Securities Analysis 225 Chapter 14: Going to Market: Orders and Trades 237 Shopping at Primary and Secondary Markets 237 Making the Trade 238 Understanding the Role of a Broker-Dealer 241 Receiving Orders from Customers 243 Designated Market Maker and the Super Display Book (SDBK) 248 Chapter 15: Making Sure the IRS Gets Its Share 253 Everything in Its Place: Checking Out Tax and Income Categories 253 Noting Taxes on Investments 254 Presenting Gift and Estate Tax Rules 262 Exploring Retirement Plans 264 Chapter 16: No Fooling Around: Rules and Regulations 271 The Market Watchdogs: Securities Regulatory Organizations 271 Following Protocol When Opening Accounts 273 Trading by the Book When the Account Is Open 284 Committing Other Important Rules to Memory 295 Part 5: A Couple Practice Exams 301 Chapter 17: Practice Exam 1 303 Chapter 18: Answers and Explanations to Practice Exam 1 323 Making the Grade 340 Answer Key for Practice Exam 1 341 Chapter 19: Practice Exam 2 343 Chapter 20: Answers and Explanations to Practice Exam 2 363 Knowing the Score 378 Answer Key for Practice Exam 2 379 Part 6: The Part of Tens 381 Chapter 21: Ten Series 7 Exam Traps to Avoid 383 Easing Up on the Studying 383 Assuming the Question’s Intent 384 Reading into the Question 384 Becoming Distracted When Others Finish 384 Not Dressing for Comfort 384 Forgetting to Breathe 385 Trying to Work Out Equations in Your Head Instead of Writing Them Down 385 Spending Too Much Time on One Question 385 Changing Your Answers for the Wrong Reasons 386 Calculating Your Final Score Prematurely 386 Chapter 22: Ten Ways to Start Your Career Off Right 387 Win at the Numbers Game 387 Be an Apprentice 388 Do Your Homework 388 Treat the Minnow like a Whale 388 Smile When You Dial 388 When a Security Falls, Don’t Be a Stranger 388 Put In the Hours 389 Broaden Your Horizons 389 Pay Yourself First 389 Set Some Goals: The Brass Ring 390 Appendix: Important Figures and Formulas 391 Index 393

About the Author :
Steven M. Rice earned an exceptionally high score on the Series 7 exam and soon began tutoring others in the broker dealership where he worked as a stockbroker. He developed and designed the online Empire Stockbroker Training Institute and has coauthored a complete library of securities training materials.


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Product Details
  • ISBN-13: 9781119545033
  • Publisher: John Wiley & Sons Inc
  • Publisher Imprint: Standards Information Network
  • Edition: Revised edition
  • No of Pages: 432
  • ISBN-10: 111954503X
  • Publisher Date: 07 Mar 2019
  • Binding: Digital (delivered electronically)
  • Language: English


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