FINRA Series7 Exam : General Securities Representative Examination (GS)

  • Exam Code: Series7
  • Exam Name: General Securities Representative Examination (GS)
  • Updated: Oct 30, 2026
  • Q & A: 400 Questions and Answers

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FINRA Series7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives11%- Customer accounts and documentation
  • 1. Suitability and customer profile
  • 2. Customer identification requirements
  • 3. Account types and registrations
Topic 2: Obtains and Verifies Customers' Purchase and Sale Instructions and Agreements; Processes, Completes and Confirms Transactions7%- Trade execution and settlement
  • 1. Trade processing
  • 2. Settlement and confirmations
  • 3. Books and records requirements
  • 4. Order handling
Topic 3: Seeks Business for the Broker-Dealer from Customers and Potential Customers9%- Customer acquisition and prospecting
  • 1. Business development activities
  • 2. Communications with the public
Topic 4: Provides Customers with Information About Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records73%- Customer recommendations and transactions
  • 1. Suitability and best interest obligations
  • 2. Asset transfers and record maintenance
  • 3. Portfolio and risk considerations
- Investment products
  • 1. Municipal securities
  • 2. Direct participation programs
  • 3. Options
  • 4. Debt securities
  • 5. Investment companies and variable products
  • 6. Equity securities
  • 7. Government securities

FINRA General Securities Representative Examination (GS) Sample Questions:

Question #1

Who is responsible for verifying that limited partners meet net worth and income requirements?

  • A. the registered representative
  • B. the sponsor
  • C. the limited partners
  • D. the general partner
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

Which of the following are considered to be discretionary orders under the FINRA Rules of Fair Practice?

  • A. a customer instructs her registered representative to purchase stock in XYZ whenever the
    representative deems the price to be right
  • B. both A and C
  • C. a customer instructs her registered representative to sell 300 shares of ABC that is long in her account
    whenever the representative thinks the time and price are appropriate
  • D. a customer gives a member firm a check for $25,000 and instructs the firm to purchase bank stocks
    and insurance company stocks when the prices appear to be favorable
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

A four-letter symbol assigned to an issue is characteristic of an equity security that is:

  • A. authorized for inclusion in the NASDAQsystem
  • B. trading in less than 100-share units on the American Stock Exchange
  • C. admitted to unlisted trading privileges on a regional stock exchange
  • D. listed on the NYSE
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

A market-maker has purchased a particular stock over a period of time for prices as high as $9 per share
and as low as $3 per share. The average cost is approximately $6 per share. The current NASDAQ quote
for the stock is 5 to 5.25. According to the FINRA Conduct Rules, the dealer's offering price to the public
should be based upon:

  • A. $3
  • B. $9
  • C. the current market for the stock
  • D. $6
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

In order to determine the amount of estate tax due, if any, the assets of a decedent's estate are valued as
of the date of death. A second evaluation is then made:

  • A. at any time up to six months after the date of death
  • B. three months after the date of death
  • C. one year after the date of death
  • D. six months after the date of death
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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