I am studying for my series 7. I am having a difficult time retaining the information any suggestions?

Question

I have been working for an investment firm for a year now, and am starting my series 7 studies so i can get a raise but my goodness it is hard. I need help with retaining the information and understanding it. Some things seem to be very confusing. PLEASE HELP!! I hope to make this a carreer...

Answer 1

Very simple. Apply all of the terms you have to learn as if it were YOUR money. "I put $500 that I earned last month into.... and this will be my return". It's different when its yours.

Look here and around this site for help:

http://www.investopedia.com/articles/professionaleducation/06/Series7Options.asp

Answer 2

Hi,
I agree that the series 7 is difficult. I was fortunate and passed it this week with a 78, after studying intensely for 3 months. I have heard people on the Yahoo Q&A say they studied for a week or two, and passed it with a 90 or something, and it wasn't that hard. That is absolute nonsense, as you know since you have studied it. I am wondering what study materials you are using. I used a book from Kaplan financial. About 650 pages of material, and it is all pretty much fair game. I don't think anyone has the ability to remember all of this material, there is just so much. I can tell you what I think worked for me. First, obviously, memorization is critical for most sections. So I had to read and memorize until I was sick of looking at it. The study material I used came with practice exams, but I didn't use them much except for the sections where you have to solve problems, such as options and margin accounts. I did do all the problems within the book at the end of each chapter though. So again, memorize as much as you can, and it's impossible to know it all, and make sure you can work most options problems. You will only see one or two margin account problems, at least, that is all I had. One other thing that will be important. Since it is multiple choice, with four possible answers, you must read the questions and answers carefully. In many cases, you can usually rule out two of the answers, leaving you at least a 50/50 chance of picking the right answer. In all honesty, I think being a decent test taker and guesser pulled me through. I took it in two sections, with a mandatory 1/2 hour break in between. Just try to relax, and, I hope you don't have to, but if you must, you can take it again in 30 days, although I'm sure you want to get this over with! I hope this helped you at all, best of luck!