Series 7 at a glance
Who needs the Series 7
Who needs it: anyone who will solicit, buy or sell most types of securities for customers at a broker-dealer: stocks, bonds, options, municipal securities, investment company products and more. It is the core license for retail brokers and many financial advisors at wirehouses and regional firms.
How it differs from the SIE: the SIE tests general knowledge; the Series 7 tests the job. Almost three-quarters of the exam (91 of 125 questions) sits in Function 3, making recommendations, which is where options, municipal bonds, suitability and tax treatment live.
Official Series 7 content outline
| Section | Weight | Scored questions |
|---|---|---|
| 7% | 9 | |
| 9% | 11 | |
F3: Provides Investment Information, Makes Suitable Recommendations | 73% | 91 |
| 11% | 14 | |
Total | 100% | 125 |
How to register and schedule
- Get hired or sponsored
A FINRA member firm must request the exam for you through CRD, typically by filing Form U4 or a Form U10 exam request.
- Firm pays or passes on the $395 fee
Many firms cover the fee for new hires. Confirm the current amount on FINRA’s Series 7 page.
- Schedule within your 120-day window
Book a Prometric test center. Online delivery for the Series 7 requires an approved accommodation (for example, living more than 150 miles from a test center).
- Sit the exam
130 questions total (125 scored + 5 unscored pretest items), 3 hours 45 minutes.
- Add the state exam
Most states also require the Series 63 (or the Series 66 if you will also give fee-based advice).
Current FINRA rule: wait 30 days after a first or second failed attempt, and 180 days after three failures in a row. Coming change: FINRA filed SR-FINRA-2026-014 (June 29, 2026) to cut those waits to 15 days and 60 days; FINRA says the new periods take effect on a date it will announce in a future Regulatory Notice. As of 2026-09-23 we found no implementation notice, so plan on 30/180.
Where it fits in the licensing path
Typical sequence: SIE -> Series 7 -> Series 63 for a broker, or SIE -> Series 7 -> Series 66 to also act as an investment adviser representative. The Rep Path and Advisor Path bundles match those sequences.
Try 10 free Series 7 questions
Series 7 practice questions
Everything on the Series 7
Get the full Series 7 bank
Outline-weighted original questions with explanations, section drills and timed full-length exams. $119 one-time, 12 months, free access extension until you pass.
Frequently asked questions
How many questions are on the Series 7?
125 scored multiple-choice questions plus 5 unscored pretest questions, 130 in total, per FINRA’s 2025 content outline.
How long is the Series 7 exam?
3 hours and 45 minutes.
What is the Series 7 passing score?
A scaled score of 72. FINRA uses equating across exam forms, so 72 is not simply 72% of questions correct.
How much does the Series 7 cost?
The FINRA fee is $395 (verified 2026-09-23). It was previously $300.
Can I take the Series 7 without a sponsor?
No. FINRA requires you to be associated with and sponsored by a member firm (or other applicable SRO member) to take the Series 7. See exams you can take without sponsorship.
Do I need the SIE before the Series 7?
You need both to be registered. The SIE is a co-requisite, so you can take them in either order, but most candidates take the SIE first.
What is the hardest part of the Series 7?
Function 3 is 73% of the exam and holds most of the technical material: options strategies, municipal securities, suitability and tax rules.
Sources
- FINRA - Series 7 General Securities Representative Exam (accessed 2026-09-23)
- FINRA - Series 7 Content Outline (2025) (accessed 2026-09-23)
- FINRA - Testing and Qualifications (accessed 2026-09-23)
- FINRA - Schedule an Exam (accessed 2026-09-23)