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Posted: 5/22/2002 9:06:24 AM EDT
I took the Series 7, the NASD general securities represenative licesing exam, yesterday after studing for three weeks and I made an 82! I called my boss soon after and he told me that I had the highest grade of all the other guys at work! Now all I need is my Series 66 so that I will be a licensed financial advisor. Has anyone else taken the 7, and how did you do?
Link Posted: 5/22/2002 9:09:35 AM EDT
I hope a reputable firm sponsored you. I know a number of people that were sponsored by boiler type outfits and their Series 7 is now REALLY tainted and noone will pick them up. (Firm prosecuted and shut down.) Outside of that, CONGRATS! I know its a bitch, but all of the studying pays off in the end!
Link Posted: 5/22/2002 9:11:54 AM EDT
Congratulations! I'm sure you've heard the horror stories of people who have to take it again and again. I took it last November and passed. Your score was better than mine. I'm in the process of studying for my 66 as well. I used Dearborn for prep materials. What about you? Who is your broker/dealer? I work for a wholesaler that does fee-based asset management.
Link Posted: 5/22/2002 9:13:10 AM EDT
I think I got a 74% on mine
Link Posted: 5/22/2002 9:30:12 AM EDT
[Last Edit: 5/22/2002 9:35:58 AM EDT by lordtrader]
Originally Posted By EagleArmsHBAR: I took the Series 7, the NASD general securities represenative licesing exam, yesterday after studing for three weeks and I made an 82! I called my boss soon after and he told me that I had the highest grade of all the other guys at work! Now all I need is my Series 66 so that I will be a licensed financial advisor. Has anyone else taken the 7, and how did you do?
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Congrats dude!!! I got a 76 on mine. You way over studied for that. By 12% [;)] Now you have to look forward to numerous tests. This includes CE credits. Maybe a Group 1 Insurance license. If you get into management you will need your principal lics. If you want to get into analysis, you would need your CFA. Or perhaps more in depth financial planning then you will need your CFP. All of which will require CE courses. Welcome to a career of test taking. And background checks. [:D]
Originally Posted By Minman72: I hope a reputable firm sponsored you. I know a number of people that were sponsored by boiler type outfits and their Series 7 is now REALLY tainted and noone will pick them up. (Firm prosecuted and shut down.) Outside of that, CONGRATS! I know its a bitch, but all of the studying pays off in the end!
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The first time I took the 7 was with a penny stock firm called Blinder Robinson. They were one of the firms that caused the NASD to institute the penny stock rule that exist today. They were shut down back in 91. I did not have any clients with them at the time the SHTF, so my U4 is clean thank God!! Since then I let my lics. lapse and had to retake it again back in 94.
Link Posted: 5/22/2002 9:33:10 AM EDT
I also used dearborn material to study for and took the class. I was sponcered by #14 of the Fortune 500 world's largest corporations. I will take the 66 on June 21 and from what I hear it is easy but I have not even looked at the material yet. It is hard to think one month ago I did not have my insurance license or series 7, and in one more month I will have my 66 and my BBA in Finance.
Link Posted: 5/22/2002 4:02:17 PM EDT
Congrats EagleArmsHBAR I passed my Series 7 in 1976, When I took it it was in to parts, 2 1/2 hours in the AM, a break for lunch, than another 2 1/2 hours. Back than they were really stressing Rules and Regs. I took a 4 week crash course and I really thought I was ready. When they gave out the first part I was in hog heaven, I don't think I missed one question, I finished the first part in 1 hour. I went to lunch and when I got back for the second part it was all options. I literally guessed the second half and passed with a 70. That test sucked, Wait till you have to take the Principals exam. Welcome to legalized gambling [;)]
Link Posted: 5/22/2002 5:14:18 PM EDT
Originally Posted By AAA: Wait till you have to take the Principals exam. Welcome to legalized gambling [;)]
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I thought the Series 24 was harder than the Series 7. The 53 was a breeze. Now I am taking the 55. Next will be the 4, that oughta be a doozy. BTW AAA+, you still at with the same firm? I need a source for some corps. offerings, I will shoot you a Bloomberg Message sometime next week. We are finally getting our little rinky dink desk together.
Link Posted: 5/22/2002 6:14:19 PM EDT
[Last Edit: 5/22/2002 6:27:04 PM EDT by AAA]
Yo LT I'am still working for the Borg... If they ever decide that their going to move us to Virgina I'll get you an interveiw. It's not the best place to work but I've seen alot worse. Send me a Bloomberg, I'll send you my inventory
Link Posted: 5/22/2002 7:59:04 PM EDT
Way to go!!! I passed mine last year...it was a pain the the butt...can't wait to take my 8 but you have to wait 3 years I think before you can...but hey...if I can handle my carbine...what's left???
Link Posted: 5/22/2002 8:19:57 PM EDT
Congratulations ! I would have never guessed there are so many registered reps here ! I passed my 7 back in '85. Back then, if you were testing and had to go to the head, a "proctor" went with you to discourage cheating. I wonder if that's where the term proctologist came from. I was a broker for 10 years until I became disabled and had to quit. Had 10 surgeries in 10 years, lost my right elbow, and should have died in '87 with my deadly and incurable staph aureus infection that I still have. I'm slowly coming around and now I'm a sales assistant for the CEO where I worked 8 years ago. Also have a tiny Internet consulting firm. We're just now putting together strategies to penetrate the pension, profit sharing, and 401-K market. Question of the day: Why do people buy from you? Answer: because they like you. How do you get them to like you and feel comfortable? Answer: Learn to like them first. -Beldar.
Link Posted: 5/22/2002 10:06:48 PM EDT
I took my test in '96 and made a 77! A guy that trained we me in the same company made a 94!! The CEO of the company shit himself and thought he had a stud on his hands. He was the first to wash-out! It wasn't a hard test, but a wordy-ass govt. test that covered a butt-ton of information. There is a guy named Nash that runs the Investment Training Institute in Atlanta that offers a two week course that prepares you for the test. It was worth every penny. I was one of the guys sponsored by an investment banking firm that had a small brokerage arm. They weren't the boiler room type, but had a lot of clowns running the brokerage end. I thought it was a tough racket. I made some real good money due to the frequent IPOs, but hated what it took to do so. I quit after about a year and a half and went to law school. I HATED COLD CALLING!!! Good luck! Always remember that there is money to be made for your clients in a bull or a bear. Save some money and get in with someone selling options. You can make a killing or loose your ass, but those guys have balls.
Link Posted: 5/23/2002 8:48:51 PM EDT
Originally Posted By Yorkplates: I took my test in '96 and made a 77! A guy that trained we me in the same company made a 94!! The CEO of the company shit himself and thought he had a stud on his hands. He was the first to wash-out!
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People that get high scores in this test normally was out of the sales program. They are more suited for back office or analyst jobs. My first sales manager told me that a guy that took it 3 times and finally passed is your ideal sales guy. He has persistance to finish, but not too overly analytical, so he is able to sell anything you want him to.
Link Posted: 5/24/2002 8:51:00 AM EDT
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