2006-06-26 03:53:59 · 11 answers · asked by dave k 2 in Business & Finance ➔ Careers & Employment
They are not as hard as everyone makes it out to be. I am a former Series 7, 63, 6 and 24 holder - who studied, passed all the tests with a minimum of an 88 score for all 4 respectively.
The reason many firms claim it is "harder than the Bar, etc" (which is complete BS) is that they are taking the first rate of passing for people who take the test. The difference is - anyone can qualify to take the test, therefore people with zero knowledge are taking it and failing it. It is more of a "scare" tactic and motivational tactic for you to study hard and pass. They like to compare it to other "difficult" tess, but again, the quality of the person, on a whole taking the test is no where near the quality of someone taking the CPA, BAR, etc - for they have hundreds of hours of course study - just to qualify for the test, while the only requirement for Series is 18 , sponsored by a firm, broker-dealer, etc.
In other words the population of Series takers is "poorer", therefore more fail, than other comparative tests.
Study, pay attention - and heres a tip - Know your Options strategies, Bonds and Securities laws. These account for roughly 65% of the total test. The other challanging part is two fold a) sitting there for up to 4 hours, with a mandatory break in between the 2 parts - and b) the nerves of having cameras watching you and waiting that precious 15 seconds to receive your score. Study, take the practice exams - and again - know your Options, Bonds and Securities Laws. The equity portions are pretty straight forward.
2006-06-26 04:04:34 · answer #1 · answered by goododie4 3 · 0⤊ 0⤋
A series seven - yes. It's like getting a bachelor's degree in a few months. It's about the size of a NYC Yellow pages. But it CAN be done. I got mine in about 3 months. The 7 is the hardest test.
And no matter what they tell you - the series 7 is NOT all about options. Options are the hardest PART of the exam and they take the longest to complete, but you've got to know EVERYTHING.
There is a section, chapter 11 or 12 I think - it's got some complex f------ equations in it. Strange things you've never heard of - there are few of those questions on the test, most people skip it. You'll know the section when you find it.
A 63 is a piece of cake.
Series 6 I don't know - but I know the seven is the hardest - if you can do that without blowing your brain out, you're good.
LISTEN: The best way to go, if find a place that will give you "free sponsorship" AND - and this is also ESSENTIAL - free classes.
And you will have to study like you never have before. Get as far ahead as you can in your reading BEFORE the class begins. I told my family and my gf - I am going to cease to exist for the next few months - I will be studying - not mowing the lawn, not doing ANY chores - I will be studying for at least 14 hours a day, and often I did for 18 hours a day.
2006-06-26 11:01:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Series 6, 7, and 63 licenses are issued to folks who demonstrrate that they KNOW the material.
So, no, the tests aren't that hard. If you know the material.
Study.
2006-06-26 10:55:46 · answer #3 · answered by Stuart 7 · 0⤊ 0⤋
You can pass I did by just studying the material and taking practice test over and over again. Learn ALL THE synonyms and antonyms fore every thing that you see in the study material. This will help you a LOT! Example stock = equity. Ask your employer for a list if you do not know them. Good luck I thought my test were written in a foreign language! LOL
2006-06-26 11:00:51 · answer #4 · answered by golferwhoworks 7 · 0⤊ 0⤋
The tests are hard because of the material they cover. You must put in intense study, probably like any test, any you can do well.
What type of work have you been involved in before? Anything to do with this type of endeavor?
Are you lined up with someplace once you get your license?
2006-06-26 11:22:12 · answer #5 · answered by Michael C 1 · 0⤊ 0⤋
I'm sure if you study you will do just fine, I got my 6 on the first try so I am sure you will too.
2006-06-26 10:57:08 · answer #6 · answered by duell222 2 · 0⤊ 0⤋
Yes, they are difficult. I passed each of those on my first try because I studied hard and was prepared.
Good luck!
2006-06-26 10:57:53 · answer #7 · answered by ps2754 5 · 0⤊ 0⤋
not hard at all. You need to study and you need a sponsor to take the test.
2006-06-26 10:56:44 · answer #8 · answered by Joseph O 1 · 0⤊ 0⤋
nothing is hard in life even my missions
so just try
am with u
2006-06-26 10:55:11 · answer #9 · answered by BOND WITH THE BEST 3 · 0⤊ 0⤋
could b go find out
2006-06-26 10:55:56 · answer #10 · answered by Harold T 5 · 0⤊ 0⤋