Series 7 Study Guide 2026: General Securities Representative
$10 · instant PDF download (link also emailed)
For people sponsored by a FINRA member firm who have the SIE done (or underway) and now need the Series 7 top-off — options, munis, margin, and the suitability questions that make up most of the test.
Covers the current FINRA Series 7 exam outline · Written and maintained by Todd Lavergne, Todd Lavergne Media · Last updated Oct 2026
The Series 7 spends 91 of its 125 scored items on products, recommendations, and records. Memorizing terms isn’t enough; you need to work the option and margin math and pick the right product for the customer in front of you.
- Lessons organized by FINRA’s four job functions
- 80 original practice questions with answers and short explanations
- Option positions, spreads, and margin math worked step by step
- Cheat sheet plus 4- and 8-week study plans
- Instant PDF after payment — link also arrives by email
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Sample questions & answers
Short previews from this guide (not the full book):
Sample Q21. A customer buys 1 XYZ Jan 50 call at 3. What is the breakeven?
Answer: C — 53
Long call breakeven = strike + premium.
Sample Q34. A long margin account has a debit of $9,000. Below what market value does a maintenance call occur?
Answer: B — $12,000
$9,000 ÷ 0.75 = $12,000.
Sample Q15. An investor in the 35% federal bracket considers a 3.25% municipal bond. The tax-equivalent yield is about:
Answer: B — 5.00%
3.25 ÷ 0.65 = 5.00%.
What’s not included
Not a live class, not a video course, and not a promise you will pass. Exam facts are dated October 2026 and cited to official sources inside; always confirm current details with the official exam body before you book.
Disclaimer: an independent PDF study aid, not affiliated with or endorsed by FINRA. All practice questions are original.
Free sample: 5 questions from the guide
Taken straight from the Series 7 guide. Try each one, then tap “Show answer.”
A firm emails the same market commentary to 40 retail customers over two weeks. How does FINRA classify it?
- A) Correspondence
- B) Retail communication
- C) Institutional communication
- D) Independently prepared reprint
Show answer
Answer: B — More than 25 retail investors within 30 days makes it a retail communication, which generally needs principal approval before use.
In a corporate liquidation, who is paid first among these?
- A) Subordinated debenture holders
- B) Preferred shareholders
- C) Secured bondholders
- D) Common shareholders
Show answer
Answer: C — Secured creditors come first.
Long straddle: buy 70 call at 3 and 70 put at 2. Breakevens?
- A) 65 and 75
- B) 67 and 73
- C) 68 and 72
- D) 70 only
Show answer
Answer: A — 70 ± total premium 5.
A letter of intent can be backdated up to:
- A) 30 days
- B) 60 days
- C) 90 days
- D) 13 months
Show answer
Answer: C — Up to 90 days, covering a 13-month window.
A company has 20 million shares outstanding, and average weekly volume for the past 4 weeks is 150,000. The Rule 144 90-day limit is:
- A) 150,000
- B) 200,000
- C) 600,000
- D) 1,000,000
Show answer
Answer: B — The greater of 1% (200,000) or 150,000.
Practice questions are original teaching items, not real exam questions. Independent study aid; not affiliated with or endorsed by the exam provider.
Using a full prep program such as Achievable? This $10 guide is a low-cost add-on: a compact outline review plus original practice questions with explanations for extra reps before test day.
Ready when you are.