Failed the 7 with a 60 Today, Sucks.
First off, huge shoutout to Ken.
Pass or fail, much respect for everything you do for people in the securities industry.
Not posting this as an excuse, just sharing my experience for anyone studying for the Series 7.
I spent weeks memorizing a huge dump sheet with options formulas, bond formulas, regs, abbreviations, etc… and I barely used it once. Couldn't even fit all th formulas on the two plastic erasable sheets they give you.
My exam felt completely different from what I prepared for. Very Heavy "taxation and mutual fund" questions. Very few options, maybe 5 total. Had a breakeven, a straddle, and a spread question. Suitability was straightforward, but a lot of the exam felt like reverse engineering scenarios.
What surprised me most:
- Almost no regulations
- Maybe 4 bond questions
- Barely any equity questions
- One current yield question
- No margin math
- No T-chart option calculations
Honestly felt like a different exam altogether! More like a CPA or CFA exam.
For context, I was scoring low/mid 70s on Kaplan and felt like I understood the material. I wasn’t expecting the same practice questions, but I did expect the exam structure to resemble the prep material more closely.
Respect to everyone who passed on the first try, because this exam humbled me.
Hopefully, I get another shot. If my firm gives me a second chance, I’ll use another study vendor next time around. If anyone has any reccos...