Free Series 7 Practice Exam
Practice Series 7 questions written to FINRA’s content outline, with a worked answer for every calculation, then take a full mock in the real format: 130 questions, 3 hours 45 minutes, scored on the 125 that count.
130 questions in 3 hours 45 minutes, scored on the 125 that count, with a score by job function and a worked answer for every question.
Or start with a free 10-question drill- 405 original Series 7 questions with worked answers
- 11 free drills: every topic plus a mixed set
- 130 questions in the full mock, 3 hours 45 minutes, as on exam day
A 45-year-old customer will invest $250,000 in a growth fund and expects to hold it for 20 years. Which share class is generally MOST cost-effective for her?
Series 7 exam format
The FINRA Series 7 General Securities Representative Exam, run by FINRA.
- Questions
- 130 multiple-choice questions with four options: 125 scored plus 5 unscored pretest questions mixed in
- Time limit
- 3 hours and 45 minutes, delivered by Prometric
- Passing score
- 72, a scaled score FINRA equates across exam forms; our mock approximates it as 72% correct (90 of 125)
- Fee
- US$395, usually paid by the sponsoring firm
- Corequisite
- The SIE. You need both the SIE and the Series 7 for the General Securities Representative registration
- Sponsorship
- You must be associated with and sponsored by a FINRA member firm (or another SRO member) to enroll
- Retakes
- Wait 30 days after a first or second failed attempt and 180 days after a third. From January 19, 2027 the waits are 15, 15 and 60 days (FINRA Regulatory Notice 26-18)
- Functions
- F1 seeks business 9 questions · F2 opens accounts 11 · F3 information and recommendations 91 · F4 transactions 14
Watch 18 options and margin questions solved step by step
Eighteen options and margin questions with every calculation worked step by step, from long call breakeven, spreads and straddles to the Reg T deposit, the $2,000 FINRA minimum and maintenance calls.
What’s on the Series 7 exam
FINRA’s four job functions, split into the topics you study. Our full mock draws its 125 scored questions at the official counts and adds 5 unscored pretest questions, as on the real exam. Every topic has a study guide and a free ten-question drill with a worked answer after every question.
| Topic | What it covers | Guide and drill |
|---|---|---|
| F1 1.1–1.2. Prospecting, communications and new issues9 scored questions (7%) | Communications with the public, telemarketing rules, new issues, prospectuses and private placements | 10-question drill |
| F2 2.1–2.4. Opening accounts and retirement plans11 scored questions (9%) | Account types and registrations, customer identification, investment profiles, approvals and retirement accounts | 10-question drill |
| F3. Provides information, makes recommendations, transfers assets and keeps records | 91 scored questions (73%) | |
| F3 3.1–3.3. Equity securities | Common and preferred stock, rights, warrants, ADRs, corporate actions, financial statements and taxes on equity | 10-question drill |
| F3 3.1–3.3. Corporate and government debt | Corporate bonds, convertibles, Treasuries, agencies, mortgage-backed securities, money market instruments, yields and bond math | 10-question drill |
| F3 3.1–3.3. Municipal securities | GO and revenue bonds, municipal notes, official statements, tax-equivalent yield, MSRB rules and 529 plans | 10-question drill |
| F3 3.1–3.3. Investment companies, annuities and DPPs | Mutual funds and share classes, ETFs, UITs, variable annuities, variable life, DPPs, REITs and hedge funds | 10-question drill |
| F3 3.1–3.3. Options | Calls and puts, breakevens, maximum gain and loss, spreads, straddles, hedges, index options and OCC rules | 10-question drill |
| F3 3.1–3.4. Suitability, strategies and taxes | Investment risks, portfolio analysis, Reg BI and suitability, tax treatment, statements, confirmations and account transfers | 10-question drill |
| F4. Processes, completes and confirms transactions | 14 scored questions (11%) | |
| F4 4.1–4.3. Orders, trading and settlement | Quotes, order types, short sales, execution, settlement, confirmations, errors, complaints and arbitration | 10-question drill |
| F4 4.4. Margin accounts | Regulation T, FINRA minimum and maintenance requirements, long and short account math, SMA and buying power | 10-question drill |
What the Series 7 tests
- Function 3 is 91 of the 125 scored questions: products (equities, corporate, government and municipal debt, funds, annuities, DPPs, options), their risks and taxes, and suitable recommendations.
- Expect calculations: yields and bond prices, tax-equivalent yield, fund sales charges, options breakevens and spread outcomes, and margin equity, SMA and buying power.
- Function 4 covers orders, settlement, complaints and margin; Functions 1 and 2 cover communications, new issues, account opening and retirement accounts.
Take a full Series 7 mock under the real clock
130 questions in 3 hours 45 minutes, scored on the 125 that count, with a score by job function and a worked answer for every question.
Or start with a free 10-question drillHow to take the Series 7
- Pass the SIE (no sponsor needed) and join a FINRA member firm, which files Form U4 to sponsor you for the Series 7.
- Your firm opens a 120-day enrollment window and pays the US$395 fee. Schedule your appointment with Prometric.
- Sit the 130-question exam in 3 hours 45 minutes. You see a pass or fail result on screen when you finish.
- Most states also require the Series 63 before you can sell in that state, or the Series 66, which also qualifies you as an investment adviser representative.
The securities licensing path
Most representatives pass the SIE, then the Series 7 with a sponsoring firm, then the state exam their role needs: the Series 63 to sell as an agent, the Series 65 to give advice as an investment adviser representative, or the Series 66 in place of both alongside the Series 7.
Start
SIE practice examFINRA · 75 scored questions · no sponsor
Then
Series 7 practice exam
FINRA · 125 scored questions
State exam
Series 63 practice examNASAA · 60 scored questions
State exam
Series 65 practice examNASAA · 130 scored questions
State exam
Series 66 practice examNASAA · 100 scored questions
Common questions
How many questions are on the Series 7 exam?
130 multiple-choice questions: 125 count toward your score and 5 are unscored pretest questions mixed in at random. You have 3 hours and 45 minutes.
What score do you need to pass the Series 7?
A scaled score of 72. FINRA equates scores so every version of the exam is held to the same standard. Our mock exam approximates that scaled 72 as 72% correct: 90 of the 125 scored questions.
How much does the Series 7 cost?
US$395 per attempt. Your sponsoring firm enrolls you and usually pays the fee.
Do I need the SIE before the Series 7?
You need both. The SIE is a corequisite: you can take them in either order, but the General Securities Representative registration needs a passing result on each. The SIE can be taken without a sponsor; the Series 7 cannot.
How long do I wait to retake the Series 7?
30 days after a first or second failed attempt and 180 days after a third. From January 19, 2027, the waits shorten to 15 days after a first or second failure and 60 days after a third (FINRA Regulatory Notice 26-18).
What is the hardest part of the Series 7?
Function 3 is 73% of the exam and carries most of the calculations: options strategies, bond yields, muni tax-equivalent yields and fund sales charges. Margin math in Function 4 is a smaller share but almost always a calculation.
Are these real Series 7 questions?
No. FINRA does not release exam questions. These are original practice questions written to FINRA’s published content outline, with a worked explanation and the rule behind every answer.
Ready for exam day?
130 questions in 3 hours 45 minutes, scored on the 125 that count, with a score by job function and a worked answer for every question.
Or start with a free 10-question drillNext: the Series 63
One securities licensing pass covers every full mock exam and unlimited drills for the Series 7, 63, 65 and 66. The SIE has its own page.
Exam format, fees, passing scores and retake rules checked November 2026: FINRA: Series 7 exam · FINRA Series 7 Content Outline · FINRA Regulatory Notice 26-18.
Original independent practice questions written to the published FINRA content outline. Not affiliated with or endorsed by FINRA or NASAA.