How long is the Series 7 exam?
The Series 7 exam takes 3 hours and 45 minutes. You answer 135 multiple-choice questions: 125 that count and 10 unscored pretest questions mixed in at random. The passing score is 72. You also have to pass the SIE, a separate exam of 85 questions (75 scored, 10 unscored) in 1 hour and 45 minutes with a passing score of 70.
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In more detail
Each Series 7 question has four answer choices, and there is no penalty for guessing, so answer everything. With 225 minutes for 135 questions, you have about 1 minute 40 seconds per question. The pretest questions look like all the others, so you cannot skip them on purpose.
The 125 scored questions follow four job functions, and one dominates. Providing customers with information about investments, making recommendations, transferring assets and keeping records makes up 91 questions, or 73% of the exam. Opening accounts has 11 questions, processing and confirming transactions 14, and seeking business for the firm 9. Most of your study time belongs to that big third function.
FINRA places scores on a common scale, so the 72 is not a simple count of correct answers, and every version of the exam is held to the same standard. To sit the Series 7, you must be associated with a FINRA member firm. Exam guides that describe a much longer test are from before the SIE was introduced in 2018.
Series 7 and SIE at a glance (FINRA)
| Exam | Questions | Time | Passing score | Cost |
|---|---|---|---|---|
| Series 7 | 135 (125 scored + 10 pretest) | 3 h 45 min | 72 | $395 |
| SIE | 85 (75 scored + 10 pretest) | 1 h 45 min | 70 | $100 |
Step by step
- 1
Check the order: you need the SIE and the Series 7, and a member firm to sit the Series 7.
- 2
Download FINRA's content outline and weight your study time by function, with most of it on function 3.
- 3
Learn one topic block at a time, such as options, municipal securities or margin, and quiz yourself after each one.
- 4
Practice at real pace, about 1 minute 40 seconds per question.
- 5
Take at least two full 135-question practice exams in 3 hours 45 minutes before test day.
- 6
In the last week, redo the questions you missed and review the rules and numbers you keep mixing up.
How StudyPDF helps
Upload your Series 7 or SIE prep book, class notes or slides, and StudyPDF builds flashcards, quizzes and a timed practice exam from them. The practice exam gives no feedback until you submit, and the graded report shows your result per section. StudyPDF tracks the concepts you keep missing, like options strategies or margin rules, and your next quiz goes after them. A free account needs no credit card.
Sources
See also
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More questions
How many questions are on the Series 7?
135 in total: 125 scored questions and 10 unscored pretest questions. All are multiple choice with four answer choices, and you have 3 hours and 45 minutes.
Do you need the SIE to take the Series 7?
Yes. The SIE is a corequisite: you need to pass both the SIE and the Series 7. The SIE has 75 scored questions plus 10 pretest questions in 1 hour and 45 minutes, with a passing score of 70.
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