Series 7 Exam Guide: Format, Passing Score, Cost & How to Study
Everything about the Series 7 in one place: question count, passing score, cost, sponsorship, what is tested, and how long candidates typically prepare.
The FINRA Series 7 has 125 scored multiple-choice questions, a 3 hour 45 minute time limit, and a passing score of 72. The fee is $395, the SIE is a corequisite, and a FINRA member firm must sponsor you to sit the exam.
Series 7 exam facts at a glance
| Questions | 125 — scored; FINRA may add unscored pretest items |
|---|---|
| Time limit | 225 min — 3 hours 45 minutes |
| Passing score | 72 — on FINRA's scale |
| Exam fee | $395 — per FINRA; can change |
| Sponsorship | Required — a FINRA member firm must sponsor you |
| Corequisite | SIE — pass both to register as a representative |
What is on the Series 7: the four job functions
| Content area | Weight | Scored questions |
|---|---|---|
| Function 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 7% | 9 |
| Function 2: Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives | 9% | 11 |
| Function 3: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | 91 |
| Function 4: Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes, and Confirms Transactions | 11% | 14 |
Series 7 passing score and pass rate
The Series 7 passing score is 72. FINRA reports scores on a common scale, so 72 is not a fixed number of correct answers.
OpenExamHub does not publish an official Series 7 pass rate, and third-party figures vary by source and year. The fixed number is the passing score, so use timed practice to confirm you are scoring comfortably above 72%.
If you do not pass, FINRA's waiting period is 30 days after the first and second failed attempts and 180 days after the third (and after each later attempt).
How much does the Series 7 cost?
FINRA lists the Series 7 fee at $395. Because a FINRA member firm must sponsor you and enroll you, the sponsoring firm often covers it; confirm with your firm. Fees can change.
Preparation can be free: OpenExamHub's Series 7 practice questions, 13-chapter study guide, cheat sheet, and study plan require no registration.
How long to study for the Series 7
OpenExamHub's Series 7 study plan assumes roughly 100 to 150 study hours, spread over 4 weeks full time or 8 weeks while working. That is a planning estimate, not FINRA guidance.
Function 3 is 73% of the exam, so spend about 70% of your time on products, options, bonds, margin, and suitability math, and practice with timed questions to build pace.
Series 7 exam FAQ
How many questions are on the Series 7 exam?
FINRA's Series 7 content outline allocates 125 scored multiple-choice questions across four job functions, and you have 3 hours and 45 minutes. FINRA may also include unscored pretest questions that do not affect your result.
What is the Series 7 passing score?
The passing score is 72. FINRA reports scores on a common scale rather than as a raw count of correct answers.
How much does the Series 7 exam cost?
FINRA lists the Series 7 fee at $395. The sponsoring firm often pays it. FINRA sets the fee and can change it.
Do I need a sponsor for the Series 7?
Yes. You must be associated with and sponsored by a FINRA member firm, and you must also pass the SIE, which is a corequisite. The SIE itself needs no sponsor.
How hard is the Series 7?
It is a long, calculation-heavy exam: 91 of the 125 scored questions cover products and recommendations, including options, bonds, margin, and suitability. Candidates who practice timed questions and review every wrong answer tend to be best prepared.
How long do I wait if I fail the Series 7?
There is a 30-day wait after the first and second failed attempts, and a 180-day wait after the third (and after each attempt beyond the third).
Start preparing for the Series 7
Blueprint-aligned questions with instant explanations and distractor autopsies.
Series 7 timed practice testA timed 225-minute practice simulation (not an official FINRA form).
Series 7 study guide13 chapters covering all four job functions.
Series 7 cheat sheetExam-day tables: T+1, day counts, BLiSS vs SLoBS, yields.
Series 7 study plan4-week and 8-week schedules plus the dump-sheet strategy.
Key terms for this exam
Margin call definition · Put vs call options · Accredited investor · Rule 144 · Regulation Best Interest · Tax-equivalent yield · Full glossary
OpenExamHub is not affiliated with FINRA. Exam formats, fees, and passing scores are set by FINRA and can change; confirm them on FINRA's current candidate materials before you register.