- Options: covered calls, protective puts, straddles and spreads, with max gain, max loss and breakeven.
- Debt: yields (nominal, current, YTM), Treasury and agency securities, CMOs.
- Municipal securities: GO vs. revenue bonds, tax-equivalent yield, official statements.
- Packaged products: mutual fund breakpoints, 12b-1 fees, variable annuities, DPPs.
- Margin: Reg T 50%, maintenance requirements.
- Rules: communications, cold calling, Reg S-P, Rule 144, new-issue restrictions.
USA Series 7 Exam: Quick Facts
- Administered by
- FINRA (Prometric)
- Questions
- 125 scored + 5 pretest
- Time
- 3 hours 45 minutes
- Passing score
- 72
- Fee (2026)
- About $395 (check FINRA)
- Prerequisite
- SIE + firm sponsorship
Free practice test
Test what you know
Random questions, instant scoring and an explanation for every answer.
Start the USA Series 7 Exam practice test →More USA Series 7 Exam questions
Disclaimer: This guide is for general information and is not financial, tax, insurance or investment advice. Exam details, fees, blueprints and product terms change. Confirm with the official organization or a licensed professional. Read our editorial policy.