The Series 7 Examination is a licensing test administered by the Financial Industry Regulatory Authority (FINRA) to evaluate the competencies of every entry-level finance professionals who are involved in selling, dealing, or trading of securities. And whether you are taking this exam for the 1st time or have been a repeater for 10 times already, preparation is essential for you to pass the test. In short, you have to study hard and make good use of your time to develop some strategies to help you reach, or even exceed the passing mark. You can take a look at the Series 7 pass rate by going to this link here.
Read more as we are going to discuss some of the effective strategies you should do to pass the Series 7 exam in today’s post.
Table of Contents
Develop A Strong Routine Early
Set a strong routine for studying as much as possible. And that’s because having a regular and steady study routine will help you to retain more information as compared to cramming just before days of the Series 7 exam. So make it a point to set a schedule between your study, practice test sessions, and your usual routines accordingly to prevent burnout.
Moreover, we also recommend you to develop a good sleeping pattern at least 2 weeks before the exam as getting enough sleep will help you prevent anxiety and promotes better brain function so you can retrieve all the information you need easily when answering the test.
Devise A Concrete Study Plan
According to experts, those who are experienced in the field of finance have to spend between 80 to 100 hours of studying for the FINRA licensing exam, while fresh graduates and first-time takers have to allot 150 hours at most. So you need to lay out a workable study plan that will ensure you put these recommended hours in. Of course, you also have to consider giving enough break time to allow the information to be absorbed into your brain.
Concentrate On Learning Applied Concepts
Some questions in the Series 7 test will ask you to make recommendations for a client based on the knowledge you have learned. So be sure to focus more on learning and understanding applied concepts than memorizing formulas so you’ll be able to answer these questions correctly during the actual exam.
Take Practice Exams
Practice makes perfect. Hence, it’s important that you also take Series 7 practice exams so you’ll be able to determine the areas where you need to improve and better your chances of passing the actual Series 7 examination. Also, taking practice exams help you develop confidence as these tests replicate the feel and difficulty of the actual exam.
Stay Calm On The Day Of The Exam
Last but not least, be at the testing center at least 30 minutes before the scheduled time of the Series 7 exam. This way, you’ll be able to gather your thoughts early and be composed so you’ll be able to answer the questions correctly without having to make any second-guesses. Likewise, arriving early before the test starts allows you to develop the kind of focus you’ll need to understand the questions that lie ahead.
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