A trustee wants to open an account for a trust. The firm should obtain:

The trust agreement or a certification of trust

Signed consent forms from every trust beneficiary

Which person generally may NOT open a securities account in his or her own name without a custodian?

A 17-year-old high school student

A 30-year-old self-employed consultant

Which statement BEST describes the trade-off of placing a collar on a long stock position?

Downside is limited by the long put, and the short call's premium reduces that cost but caps upside

Downside is limited by the short call, and the long put's premium adds income but caps upside

Both upside and downside remain unlimited, but the position generates net premium income each month

Downside is eliminated entirely at no cost, and the investor keeps all upside above the call strike

A portfolio manager with a large, diversified portfolio of stocks similar to a broad market index wants protection against a market-wide decline. Which strategy is MOST appropriate?

Buy puts on each of the ten largest holdings

Free Series 7 Practice Test

Take free, original Series 7 practice questions weighted to the official outline, with an explanation after every answer and a score for each section at the end.

Updated 2026-09-23 · 2 sources · By the SeriesPrepKit team

Free Series 7 practice test

Series 7 practice questions

Regulation S-P requires broker-dealers to adopt written policies and procedures that address:

How the real Series 7 is weighted

Our free questions are drawn across these sections. Source: FINRA - Series 7 Content Outline (2025).
Outline section	Weight	Scored questions
F1: Seeks Business for the Broker-Dealer	7%	9
F2: Opens Accounts / Evaluates Customer Profile	9%	11
F3: Provides Investment Information, Makes Suitable Recommendations	73%	91
F4: Obtains and Processes Transaction Instructions	11%	14

How the real exam is scored

FINRA reports a scaled score; you need scaled score of 72. Because FINRA equates scores across different exam forms, the passing mark is not a fixed percentage of questions. On our practice tests we show raw % correct by section; aim for a consistent 75-80% on timed full-length tests before booking (our coaching rule of thumb, not an official standard).

Format: 125 scored + 5 unscored multiple-choice questions, four answer choices each.
Time: 3 hr 45 min.
Delivery: Test center; online only with an approved accommodation.

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We are building a free, timed, 125-question Series 7 exam with a section-by-section score report. Leave your email to be told when it opens; meanwhile, the diagnostic below is live now.

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Outline-weighted original questions with explanations, section drills and timed full-length exams. $119 one-time, 12 months, free access extension until you pass.

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Frequently asked questions

Is this Series 7 practice test free?

Yes. The sample questions on this page are free with explanations and no account. The full bank, drills and timed exams are part of paid access ($119 one-time).

Are these real Series 7 exam questions?

No. Live exam content is confidential. These are original questions written to the published FINRA outline.

How many questions are on the real Series 7?

125 scored plus 5 unscored pretest questions, with 3 hr 45 min to finish.

What score should I get on practice tests before the real Series 7?

There is no official conversion. As a rule of thumb, book the exam once you score comfortably above the passing mark on several timed full-length tests and no single section is dragging.

Sources

FINRA - Series 7 General Securities Representative Exam (accessed 2026-09-23)
FINRA - Series 7 Content Outline (2025) (accessed 2026-09-23)