Series 7 Options Practice Questions
F3 3.1–3.3 · Provides information, makes recommendations, transfers assets and keeps records · 91 of 125 scored questions across 6 topics
Ten Series 7 questions on options, untimed, with a worked answer after each one.
Or take the full Series 7 mock examA customer writes 1 XYZ 60 put at 4.50 and buys 1 XYZ 55 put at 1.50, same expiration, for a net credit of 3. What is the customer's maximum potential loss?
Options on the Series 7
Options are tested across Function 3 and are among the most calculation-heavy topics on the Series 7. Learn the four basic positions cold, then spreads, straddles and hedges.
- Outline
- F3 3.1–3.3: Calls and puts, breakevens, maximum gain and loss, spreads, straddles, hedges, index options and OCC rules
- Share of the exam
- F3 Provides information, makes recommendations, transfers assets and keeps records: 91 of 125 scored questions (73%)
- Our drill
- 10 questions from 55 on this topic, untimed, a worked answer after each; one free attempt, unlimited with a pass
What to know
- Call breakeven = strike + premium; put breakeven = strike − premium. Buyers risk only the premium; an uncovered call writer’s loss is unlimited.
- Intrinsic value is the amount in the money; time value = premium − intrinsic value.
- A covered call (long stock, short call) earns premium income and caps the upside; a protective put (long stock, long put) sets a floor under the stock.
- A debit spread profits when the premiums widen and a credit spread when they narrow or the options expire. Breakeven for a call spread = lower strike + net premium; for a put spread = higher strike − net premium.
- A long straddle has two breakevens, strike ± total premium, and profits from volatility; a short straddle profits when the stock stays near the strike.
- Index options settle in cash, American-style equity options can be exercised on any business day up to and including expiration, and every listed option is issued and guaranteed by the Options Clearing Corporation (OCC).
Test yourself on options
Ten Series 7 questions on options, untimed, with a worked answer after each one.
Or take the full Series 7 mock examCommon questions
How many options questions are on the Series 7?
Options questions are part of Function 3 (91 of the 125 scored questions).
Are these real Series 7 questions?
No. FINRA and NASAA do not release exam questions. These are original practice questions written to the official content outline, with a worked explanation and the rule behind every answer.
More Series 7 topics
- Prospecting, communications and new issuesdrill
- Opening accounts and retirement plansdrill
- Equity securitiesdrill
- Corporate and government debtdrill
- Municipal securitiesdrill
- Investment companies, annuities and DPPsdrill
- Suitability, strategies and taxesdrill
- Orders, trading and settlementdrill
- Margin accountsdrill
Outline and exam facts 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.