What on EARTH is the Series 7...
Hi everyone!
So my friend Danielle sent me a message, asking me what the Series 7 exam is. Well considering I have been blabbing about it for so long now, I guess I never realized that there are probably a lot of people who have no idea what it is. Well I couldn't think of how to describe it, SO I did a search on the internet, and after looking for a few moments here's teh best explanation I could find:
"The Series 7 Exam is the common name for the General Securities Representation Exam. The Series 7 Exam covers a broad range of investments, including stocks, bonds, options, limited partnerships, and investment company products such as open-end funds. Upon passing the test, you will be granted a Series 7 / General Securities license.
A Series 7 license is required of any investment professional who communicates with retail investors. Professionals who need a Series 7 license include stock brokers, account managers, analysts, and investment bankers. Practicing without a Series 7 license may result in severe financial and other penalties."
Basically it's a gate keeper. It's is an insanely tough exam that a person who wants to enter any of the above named fields needs to pass in order to even get into those careers. It's a way for them to keep people from entering the industry.
So there it is!! Hope that helps!