Series 7 Communications and New Issues Practice Questions
F1 1.1–1.2 · Seeks business for the broker-dealer · 9 of 125 scored questions
Ten Series 7 questions on prospecting, communications and new issues, untimed, with a worked answer after each one.
Or take the full Series 7 mock examA firm has a 20% participation in an Eastern (undivided) syndicate account for a $10,000,000 municipal bond issue. The firm sells its entire $2,000,000 allocation, but the syndicate still holds $1,500,000 of unsold bonds. For how much of the unsold bonds is the firm liable?
Prospecting, communications and new issues on the Series 7
Function 1 is 9 of the 125 scored questions: how a representative finds customers and what can be said to them. It covers FINRA Rule 2210 communications, telemarketing, and how new securities are offered and sold.
- Outline
- F1 1.1–1.2: Communications with the public, telemarketing rules, new issues, prospectuses and private placements
- Share of the exam
- F1 Seeks business for the broker-dealer: 9 of 125 scored questions (7%)
- Our drill
- 10 questions from 32 on this topic, untimed, a worked answer after each; one free attempt, unlimited with a pass
What to know
- FINRA Rule 2210 sorts communications into three types: retail communications (more than 25 retail investors in 30 days), correspondence (25 or fewer retail investors in 30 days) and institutional communications.
- A principal approves retail communications before first use; correspondence and institutional communications are covered by supervision and review procedures instead.
- FINRA Rule 3230 limits telemarketing calls to 8 a.m.–9 p.m. at the called person’s location and requires firms to honor the national and the firm’s own do-not-call lists.
- A registered offering has a cooling-off period after filing: no sales and no binding indications of interest, only a preliminary prospectus (red herring) and tombstone-type notices.
- Exempt offerings tested include Regulation D private placements (Rule 506(b): any number of accredited investors and up to 35 non-accredited purchasers), Rule 144A sales to qualified institutional buyers and Regulation A.
- Municipal new issues are sold by competitive or negotiated sale and described in the official statement, which the underwriter must obtain and review under SEC Rule 15c2-12 and deliver to customers under MSRB Rule G-32.
Test yourself on prospecting, communications and new issues
Ten Series 7 questions on prospecting, communications and new issues, untimed, with a worked answer after each one.
Or take the full Series 7 mock examCommon questions
How many prospecting, communications and new issues questions are on the Series 7?
Function 1 is 9 of the 125 scored questions, about 7% of the exam. Our full mock draws the same number.
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
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.