SERIES 7 EXAM

Most people around me know that I have been under self imposed house arrest since my move here to Port St. Lucie, FL. The main reason for this has been to focus on my preparation (good thing I am using Firefox2.0 it just gave me the red-underline because I spelled preparation with an 'e') for the NASD Series 7 license exam.

Now everyone asks what is this exam, and why are you taking it?

Here is a detailed breakdown ...




This exam is administered by the Financial Industry Regulatory Authority (FINRA) and provides an individual with the qualifications necessary in order to make different types of trades with all types of corporate securities, excluding commodities and futures.



















Sample Question

When a corporation wishes to open a margin account with a broker-dealer, which of the following is required?

I. A corporate resolution from the board of directors
II. A copy of the corporation’s trust indenture
III. A copy of the corporation’s charter or by-laws
IV. An agreement that the stock of the corporation will not be traded by the broker-dealer as a market-maker.

a) I, II
b) I, III
c) II, IV
d) I, II, III, IV

ANSWER