FINRA Series 7 Exam: Trivia Quiz!

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| By Gregorynaomi

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Quizzes Created: 1462 | Total Attempts: 836,062

Questions: 10 | Attempts: 161 | Updated: Mar 20, 2023

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Finra Series 7 Exam: Trivia Quiz! - Quiz

FINRA Series 7 is an exam set up for measuring applicants' degree in possession of knowledge in performing the critical function of general securities representatives and sales of municipal and corporate securities. A candidate must attain the passing score of both the Series 7 and SIE to obtain the general securities representatives' registration.

Questions and Answers

1.

How many questions are present in the Series 7 exam?
- A.
  
  125
- B.
  
  150
- C.
  
  200
- D.
  
  250
Correct Answer
A. 125

Explanation
The Series 7 exam consists of 125 questions.

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2.

What is the Corporate Securities Limited Representative Exam?
- A.
  
  Series 55
- B.
  
  Series 53
- C.
  
  Series 62
- D.
  
  Series 7
Correct Answer
C. Series 62

Explanation
The Corporate Securities Limited Representative Exam, also known as Series 62, is a licensing exam administered by the Financial Industry Regulatory Authority (FINRA). This exam is designed for individuals who want to become limited representatives in the corporate securities field. It covers topics such as corporate securities products, municipal securities, and investment company products. Passing the Series 62 exam is a requirement for individuals who want to engage in the sale of corporate securities on behalf of a broker-dealer firm.

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3.

What is the Series 7's passing score?
- A.
  
  72%
- B.
  
  82%
- C.
  
  55%
- D.
  
  62%
Correct Answer
A. 72%

Explanation
The passing score for the Series 7 exam is 72%. This means that in order to pass the exam, a candidate must answer a sufficient number of questions correctly to achieve a score of at least 72%.

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4.

What is the total time taken for the exam?
- A.
  
  205 minutes
- B.
  
  210 minutes
- C.
  
  215 minutes
- D.
  
  225 minutes
Correct Answer
D. 225 minutes

Explanation
The total time taken for the exam is 225 minutes.

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5.

What is the format of the exam questions?
- A.
  
  Essay
- B.
  
  Fill in the blank
- C.
  
  Multichoice
- D.
  
  True/False
Correct Answer
C. Multichoice

Explanation
The format of the exam questions is multichoice because the options provided are multiple choice options. The question does not mention any other format such as essay, fill in the blank, or true/false. Therefore, the correct answer is multichoice.

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6.

What is the cost of the Series 7 to be taken?
- A.
  
  $205
- B.
  
  $245
- C.
  
  $250
- D.
  
  $225
Correct Answer
B. $245

Explanation
The cost of the Series 7 to be taken is $245.

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7.

Which of these exams is FINRA retiring?
- A.
  
  Series 53
- B.
  
  Series 7
- C.
  
  Series 62
- D.
  
  Series 52
Correct Answer
C. Series 62

Explanation
FINRA is retiring the Series 62 exam.

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8.

What is the full meaning of SIE?
- A.
  
  Security Information Essentials
- B.
  
  Security Information Exams
- C.
  
  Security Industry Essentials
- D.
  
  Security Industry Exams
Correct Answer
C. Security Industry Essentials

Explanation
The full meaning of SIE is Security Industry Essentials.

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9.

What is the minimum age required for the SIE exam?
- A.
  
  25
- B.
  
  22
- C.
  
  20
- D.
  
  18
Correct Answer
D. 18

Explanation
The minimum age required for the SIE exam is 18.

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10.

What is the percentage of Knowledge of Capital Market in SIE exam?
- A.
  
  16%
- B.
  
  12%
- C.
  
  14%
- D.
  
  19%
Correct Answer
A. 16%

Explanation
The percentage of Knowledge of Capital Market in the SIE exam is 16%.

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