FINRA Series 7 Exam Outline Study Guide

FINRA Series 7 Exam Outline Study Guide FINRA - Answer️️ -Financial Industry Regulatory Authority Purpose of FINRA Series 7 exam - Answer️️ -"The Series 7 exam is designed to assess the competency of entry-level General Securities Representatives. The Series 7 exam seeks to measure the degree to which each candidate possesses the knowledge, skills and abilities needed to perform the critical functions of a General Securities Registered Representative. In order to obtain registration as a General Securities Representative, candidates must pass both the Series 7 exam and a general knowledge co-requisite, the Securities Industry Essentials (SIE) exam." Length of Series 7 Exam - Answer️️ -"The exam consists of 125 multiple-choice items, and each item consists of four answer choices." There are an additional 10 pre-test questions that are not scored. 3 hours and 45 minutes to take exam Types of questions for Series 7 Exam - Answer️️ -"Function 1: (9 Q's) Seeks Business for the Broker-Dealer from TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 2/29 Customers and Potential Customers Function 2: (11 Q's) Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives Function 3: (91 Q's) Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records Function 4: (14 Q's) Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions" What is the meaning of Function 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers? - Answer️️ -"Contacts current and potential customers in person and by telephone, mail and electronic means; develops promotional and advertising materials and seeks appropriate approvals to distribute marketing materials" "Describes investment products and services to current and potential customers with the intent of soliciting business" What is the knowledge of Function 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers? - Answer️️ -"Standards and required approvals of public communications • Types of communications (e.g., retail, institutional, correspondence) • Seminars, lectures and other group forum requirements • Product specific advertisements and disclosures TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 3/29 ° Investment company products and variable contracts ° Options-related communications; options disclosure document (ODD) ° Municipal securities ° Research reports (e.g., quiet periods, distribution, third-party research) ° Government securities, collateralized mortgage obligations (CMOs), certificates of deposit (CDs)" "• Process for bringing new issues to market (e.g., due diligence, registration statement, preliminary prospectus, final prospectus, underwriting agreement, selling group agreement, blue-sky laws and procedures) • Regulatory requirements for initial public offerings (IPOs) (e.g., restrictions on prospecting or soliciting, allowable communications with the public) • Primary financing for municipal securities (e.g., competitive sale, negotiated sale, private offering, advance refunding) • Syndicate formation and operational procedures (e.g., purpose of syndicate bid, roles and responsibilities of underwriters, selling group concession and reallowance) • Pricing practices and components of underwriters' spread and determination of underwriters' compensation and selling practices • Prospectus requirements (e.g., timeliness of information, preliminary prospectus (red herring), final prospectus) • Information required in a registration statement and offering material on new issue (e.g., in pre-filing period, in cooling-off period, in post-registration period) TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 4/29 • Official statements, preliminary official statements, notice of sale for municipal securities • Qualified institutional buyer (QIB) and accredited investor • Qualification requirements for Regulation A offerings (e.g., 1.1 As a FA, what knowledge should you have when contacting current and potential customers, developing promotional and advertising materials and seeking appropriate approvals to distribute marketing materials? - Answer️️ -"Standards and required approvals of public communications • Types of communications (e.g., retail, institutional, correspondence) • Seminars, lectures and other group forum requirements • Product specific advertisements and disclosures ° Investment company products and variable contracts ° Options-related communications; options disclosure document (ODD) ° Municipal securities ° Research reports (e.g., quiet periods, distribution, third-party research) ° Government securities, collateralized mortgage obligations (CMOs), certificates of deposit (CDs)" 1.2 As a FA, what knowledge should you have w