The main thing I’ve learned from watching deans videos is that if you want to sound smart and someone asks you about finance or economics, say “it has a lot to do with interest rates”
Hey dean, I believe in expressing gratitude. Im grateful for this channel and you. I passed my s7 today and have used you as supplemental content. Your video provided immense value..Thank you again..
Dean! My savior - I can't express enough gratitude to you. I stood absolutely no chance passing without your help. Never passed a single knopman practice exam and was on a serious time crunch. I watched/take notes to all your explicated exams and I passed the S7 today! Thank you so so much you're amazing
Dean, I passed my series 7 on Tuesday. A few days before the exam I stumbled upon your page. Without your content I probably wouldn't have passed it on the first try. Thank you so much for taking the time to thoroughly explain the content!! Reading and taking notes from a 500+ page Kaplan book left me confused and frustrated. I will be referring anybody I know to this page, that is taking the series 7. I will be back when I begin studying for the series 66. Thank you so much sir!!!
Kudos an passing your Series 7 exam!! Always very gratifying when the channel contributes to test taking victories like yours. The channel is getting easier to find as it moves up in the algo. Thanks for the referrals! This is the first month of the channel's second year. Over 250,000 views and closing in on 4,000 subscribers. Mostly because of referrals.
How were you doing with Kaplan q bank before your exam? I struggle with the Kaplan qbanks and can seem to get above an 82. I just scored an 89 on this exam, pausing before dean explains.
I've been so tripped up on Spreads vs. Straddles for the longest time but this helped me crack the code! I was incorrectly memorizing Spreads as having different strikes but that could really be a Combination instead. I remember Spreads correctly now as thinking of the short and long positions being spread apart from one another as not the same. Whereas Straddles have the two 'd's side by side in the name, meaning that the two options must both have the same starting letters as in a 'L'ong call and 'L'ong put, or, a 'S'hort call and 'S'hort put. A combination has a combo of letters together like in the name Stra'dd'le. Hope that helps anyone also struggling to find a definite strategy to memorize this. Thanks Dean!
This is sooooo helpful. One way of repaying Dean for all his help is to completely watch the ads. Don’t skip them. That way Dean can monetice a bit on this video.
I used STC for my base training software. However, it was great to have your videos as a supplement to listen to in the car. No issue passing the SIE, 7 or 66. Thanks for the help! 👍
Kudos on completing your test taking/registration hat trick! My channel is a FREE supplement to paid study materials NOT a substitute. Always very gratifying when my videos contribute to test taking victories like yours.
Thank you! I watched this about 2 months ago and again today. I knew more than last time. Paused, answered on my own and then restarted the video. I will do the same with the other test explications and let's hope I pass in 2 weeks!
This was unbelievably helpful. I feel confident again I had done well on options then totally forgot it but and was overwhelmed with how to relearn BE for spread & straddles but this summed it up so quickly thank you
This has been great, I wish I realized all this was available earlier so I had enough time to watch all the lectures prior to my test. I think the explication was great as the other lectures go over more of the details is what it sounds like. I'll have to utilize this more moving forward! Thank you!
Hey Dean, just wanna thank you. I used your videos as supplemental material and you covered areas that weren’t in my original study materials and happened to be heavily tested in my draw. I credit you with me passing first try.
KUDOS on passing your Series 7 exam! Always very gratifying when my videos contribute to test taking victories like yours. I receive lots of debrief which I then funnel into my practice tests so glad to hear that delivered some points to you making your mark.
Dean you have changed my life! Watched almost every one of your series 7 videos and I just passed with ease!!! Thank you so much! Where can I donate???
Dean, you are awesome!! Thank you so, so much for all the content you put on this channel. I passed today and know without your videos, I could not have done it!! Really appreciate it!
WOW! This helped me so much! Muni Spreads, Mutual Funds and Type of Quotes were my weakest points but definitely got it down now. Thanks Dean! Two more videos to go! 28/30
Thank you again for all of the great content you provide! I passed the SIE and the company I work with provided Pass Perfect materials and I don't think it was a great indicator of actual test content. Is the Kaplan test bank still the one you recommend? Thank you!
@@Xman305 they are in the playlist in my recommended watch order but be sure to watch all options, munis and mutual funds and everything in the Function 3 of content outline explication.
Being confident in the execution of your study plan and being confident in yourself and your answers on the actual test is a huge advantage in making your mark so it makes very happy to hear that!
Dean, new subscriber...thank you for all of this! I just landed a job and have 6 weeks to study for the 7. I have not received my material yet ( firm uses pass perfect ). I am a boomer and haven't studied in years and feel overwhelmed. Any advice you can share? I watch about an hour or two of your videos daily to start soaking the material in.
Hi Dean, thank you for all your videos and explanations. this is the BEST material and practice series you have created for the community so far. I had a question on the #35 timestamp 32:54 . At one point I heard you say the answer is B and the second time you stated answer C. Can you clarify please. I think the answer will be " B".
Hi Dean, I appreciate all of your help and apologize for all of the questions (my exam is Monday, Nov. 7th) just trying to nail a few things down. In the TestGeek #5 Test question #107 2:03:49 you say the bond most likely to be called is the one the issuer is paying the highest interest on. However, on question #15 of this test (Practice Test 1) 16:44 , the answer to "Call Risk is associated with:" is falling interest rates rather than rising interest rates. Just wondering why that is? Thank you.
Hello Dean i always watched your vids and guess what i passed my SIE today! Thank you for your tips and lessons that really helps me to know that i am ready for it.
Thank you for this great video, Dean, I scored a 90% on this exam, and have been consistently scoring between 74-81% on Kaplans full exams. How similar would you say this video is to the actual exam and with the scores I'm getting would you say I am prepared to sit for the exam? Thank you.
Hi Dean, thanks for the video. For question 106, the answer is B 59 1/2 years old (choose to draw down without penalty)? For question 119, is A? Activity in the account and Penny stocks in the account? Thanks.
Hey Dean - hope you're well. I took this as a practice test by pausing the video before you explained the question & got a little under a 79. I have 12 days until the test date. Seemed like my weakest links were anything related to market rules & new issues for equities/munis. Any tips on what to go over? I have the Pass Perfect material from work & a Kaplan q-bank. I feel fairly strong on a lot of the material & I am happy I found your channel/subreddit! Thanks so much!
Think you are in great shape. New issues is in critical function which is only 9 questions total. Have watched my new issue lectures? There is two. One for corporate new issues and one for munis.
#102 stated the stock worth was lower but didnt state the customer sold the stock. I’ve seen similar on other practice tests where the answer was $0 can be deducted. At 1:36. Any idea how nit picky the actual test is?
I am an expert on the Series 7 test on how nit picky it is or is not. I am not sure what you are referring to. Question 102 is about NAV and POP and 1:32 has no statement the stock is lower. Are you referring to Practice Test 1 or Practice test 2? You can rest assured my questions are valid and you can also check comment section of the practice test video for other test takers think about my practice tests.
I posted on the wrong test. I’m watching at work and commenting on my phone because comments are blocked at work. It was the Kaplan practice final. Sorry for the confusion. I’ll comment on the Kaplan practice final.
Dean for time stamp 1:14:56 the spread, how do we calculate the selling concession plus the additional takedown? I had a similar question on pass perfect but I am not sure how to add the two together.
The total takedown is two components of the spread. It is the additional takedown and the selling concession. If the additional takedown is 3/8 ($3.75) and the selling concession is 1/2 ($5) the total takedown is 7/8 ($8.75)
Hey Dean, if I knew the answer to almost every question of this test… should I expect the Series 7 to be similar in difficulty level? I know I can get a death draw but generally speaking
62. A. The max loss is 3.5 points. 93.5 breakeven to the strike price 90. Maximum gain is unlimited. Ability to participate in a big price increase but not participate in a big price decline.
@Series 7 Guru thank you, for some reason the series were mixed up and I missed it between the SIE series. I need some brushing up for recovery. Thank you for taking the time to do this.
@@kennnnnnnnnnnnnnnnnnn1242 I did indeed. I recommend watching all of Deans practice exam videos and suitability video! Also the way Dean does options is killer, I recommend to adopt his method.
Glad you like it. I have not been able to figure out why the second one has so many more views than this the first one? Guess test takers are not watching them in order.
@@Series7Guru That must be it. I took your class on Kaplan and passed my 7 2 days ago. This stuff helped to really get after things. I also really liked the wieghted practice test... Doing tests on the Q bank and reviewing questions takes me much longer then an hour and a half....
I really appreciate the response I am currently studying before my employer opens the Kaplan tools for me so all of this is foreign to me. Still confused a bit on 22. Why does the a revenue bond matter here? From what I understand if the resources such as the budget are being used to meet the principal and interest isn’t that a general obligation. Please elaborate & I will take your response for what it is. Thank you so much !!
Hi Dean! Just to clarify- what are the answers to questions 59 and 60? Also on question 77, you said the answer was B, but I thought it was answer C) specialist or DMM. Just want to make sure I have the correct answers down in my notes for review :) Thanks!!!
The answer to 59 is A. Maximum gain in a covered call is breakeven to the strike price. The answer to 60 is B. Maximum loss in a covered call is breakeven to zero. The answer to 77 is C. The DMM is charged with maintaining a fair and orderly market.
On 64 when it asks shorting the stock from having unlimited risk to limited risk wouldnt it be a short put not a long call? I heard that when you are long the call on a short stock you are completed hedged and a short put on a short stock is just limited protection.
That is why the answer is A. Long call on a short stock position is an effective hedge. If stock is above the strike price you exercise your call to close out the short stock position. The short put is the the wrong answer because it is a partial hedge. You only reduce your risk by the premium received . Still exposed to unlimited risk in the short stock position. If the stock is above the strike price put will expire and you are still exposed to UNLIMITED RISK on the short stock position! You need a choice to buy the stock (long call) NOT an obligation to buy the stock (short put) to change the short stock position from UNLIMITED RISK to LIMITED RISK! Need to watch this lecture. ruclips.net/video/Ltx1P-SUHqY/видео.html
Verbal errata. I explained it correctly answered correctly and just before moving on brain fart. The answer for 35 is opening sale and the answer for 36 is closing purchase. Opening sales are used to establish or add to a short position Closing purchases are used to eliminate or reduce a short position. VERY TESTABLE! All opening sales must be done in a margin account. Only testable exception is an opening sale on a covered call. The opening sale of a covered call can be done in a cash account.
Have my 7 in two days - recently was referred here. I have been scoring around exactly a 72 on various STC practice exams. How would you recommend I spend my last day studying?
Watch these two for sure: ruclips.net/video/hI3T3cVMWTw/видео.html ruclips.net/video/7d30UYwp2sY/видео.html Be sure to a good night sleep night before test. We love referrals.
Depends on the issuer. If the issuer is a WKSI (Well Known Seasoned Issuer of Securities aka wiksey) then indeed 3 years. Most issuers doing IPO are not WKSI's so if not is 2 years. I have changed question 70 moving forward. Next time I explicate the next edition of this practice exam question 70 will read: A shelf registration for a WKSI is effective for how long and now the answer will indeed be 3 years. Thanks for your feedback. Think the 3 years is a better practice question. Reach out with any other issues you discover.
@@Series7Guru Great content as always. I'm curious to know if Finra will specify whether the question will pertain to wiksey or regular issuer? Is this confirmed by anyone you know. Thx in advance.
Hey Dean, awesome video thank you a ton. Just a heads up I believe you mis-spoke about question 106 saying it is 72, I believe it is 59.5 to open the window of WD from a QP and 72 where Wd’s are mandatory.
@@Series7Guru great, thanks for the clarification. I have my CFP education req completed and sitting for the 7 in 2 days. Little nervous and just trying to expose myself to everything so your videos have been incredible, sir.
Dean, I passed the SIE recently. I haven’t started studying for series 7. As I watch this video I’m noticing the first several questions so far I was able to answers based on my SIE studying. Is there a bIt overlap between SIE and series 7?
Hi Dean, i scored an 80% on this test, but am averaging around 60% with other vendors. How close do you think this question set is versus Achievable & PassPerfect to the real test?
My tests are teaching tools not diagnostic. Do the TestGeek final on the channel has very strong correlation the actual exam. STC is a little harder. Don't have enough data on Acheivable.
On Question 77 wouldnt the DMM be the one who is charged with maintaining a fair and orderly market in a particular security, NOT the two dollar broker?
Yes. My explanation was correct on each beginning on question 75. Simply gave wrong letter. The DMM as I said is charged with maintaining a fair and orderly market. DMM has the order book with the limits and the stops. DMM must trade at prices better than the limit orders he is holding. Good catch. $2 dollar broker helps floor broker with order over flow.
@@Series7Guru are you sure that for the exam it is 2 years? In my book and everywhere online I am seeing it is three years. But whatever is the correct answer for the exam is the one I want.
@@mattruzicka7209 If it is a WKSI the answer is 3 and that shows up more lately than non WKSI. It was the opposite when I wrote that question for exam 1 in exam 4 I will do the WKSI 3 year version of the shelf. I am sure of testable content. If you don't believe that you need to change channels.
@@Series7Guru sorry really wasn’t trying to be rude with that last comment. I just really wanted to make sure that I know the answer to the question. Sorry again
Watch Practice Test 2 next ruclips.net/video/ALMRGBbHSPs/видео.html
Tips, Tricks, and Memory Aids ruclips.net/video/7d30UYwp2sY/видео.html
The main thing I’ve learned from watching deans videos is that if you want to sound smart and someone asks you about finance or economics, say “it has a lot to do with interest rates”
That could take you far. Lol.
Hey dean, I believe in expressing gratitude. Im grateful for this channel and you. I passed my s7 today and have used you as supplemental content. Your video provided immense value..Thank you again..
Kudos on passing your Series 7 exam!! Always very gratifying when my channel contributes to test taking victories like yours.
is it true you have to be sponsored in order to take the series 7 test?
Yes
Dean! My savior - I can't express enough gratitude to you. I stood absolutely no chance passing without your help. Never passed a single knopman practice exam and was on a serious time crunch. I watched/take notes to all your explicated exams and I passed the S7 today! Thank you so so much you're amazing
Kudos on passing your Series 7 exam!
Always very gratifying when this channel contributes to test taking victories like yours.
What's next? 63? 66?
Dean, I passed my series 7 on Tuesday. A few days before the exam I stumbled upon your page. Without your content I probably wouldn't have passed it on the first try. Thank you so much for taking the time to thoroughly explain the content!! Reading and taking notes from a 500+ page Kaplan book left me confused and frustrated. I will be referring anybody I know to this page, that is taking the series 7. I will be back when I begin studying for the series 66. Thank you so much sir!!!
Kudos an passing your Series 7 exam!! Always very gratifying when the channel contributes to test taking victories like yours. The channel is getting easier to find as it moves up in the algo. Thanks for the referrals! This is the first month of the channel's second year. Over 250,000 views and closing in on 4,000 subscribers. Mostly because of referrals.
How were you doing with Kaplan q bank before your exam? I struggle with the Kaplan qbanks and can seem to get above an 82. I just scored an 89 on this exam, pausing before dean explains.
I've been so tripped up on Spreads vs. Straddles for the longest time but this helped me crack the code! I was incorrectly memorizing Spreads as having different strikes but that could really be a Combination instead. I remember Spreads correctly now as thinking of the short and long positions being spread apart from one another as not the same. Whereas Straddles have the two 'd's side by side in the name, meaning that the two options must both have the same starting letters as in a 'L'ong call and 'L'ong put, or, a 'S'hort call and 'S'hort put. A combination has a combo of letters together like in the name Stra'dd'le. Hope that helps anyone also struggling to find a definite strategy to memorize this. Thanks Dean!
This is sooooo helpful.
One way of repaying Dean for all his help is to completely watch the ads. Don’t skip them. That way Dean can monetice a bit on this video.
Thank you.
I used STC for my base training software. However, it was great to have your videos as a supplement to listen to in the car. No issue passing the SIE, 7 or 66. Thanks for the help! 👍
Kudos on completing your test taking/registration hat trick!
My channel is a FREE supplement to paid study materials NOT a substitute.
Always very gratifying when my videos contribute to test taking victories like yours.
Thank you! I watched this about 2 months ago and again today. I knew more than last time. Paused, answered on my own and then restarted the video. I will do the same with the other test explications and let's hope I pass in 2 weeks!
Sending you good test vibes.
So glad I found this, my exam is in 6 days and i plan to watch several of your videos to help prep on that final stretch. Subscribed!
Thank you for your viewership and subscription.
Did you end up passing? Mines in 11 days I'm super nervous
@@Xman305 ruclips.net/p/PLK1IazV_JQbF2DcGDNhX4cFom7TWDByTV
@@Xman305 I sure did, very heavy on options and suitability, tax stuff. Wasnt very hard, my draw was easier than the Kaplan mock exams I was taking.
This was unbelievably helpful. I feel confident again I had done well on options then totally forgot it but and was overwhelmed with how to relearn BE for spread & straddles but this summed it up so quickly thank you
You are welcome. There also seperate lectures on spreads and straddles in the option playlist. Don't forget to enjoy Thanksgiving.
This has been great, I wish I realized all this was available earlier so I had enough time to watch all the lectures prior to my test. I think the explication was great as the other lectures go over more of the details is what it sounds like. I'll have to utilize this more moving forward! Thank you!
Let others know
Hey Dean, just wanna thank you. I used your videos as supplemental material and you covered areas that weren’t in my original study materials and happened to be heavily tested in my draw. I credit you with me passing first try.
KUDOS on passing your Series 7 exam! Always very gratifying when my videos contribute to test taking victories like yours.
I receive lots of debrief which I then funnel into my practice tests so glad to hear that delivered some points to you making your mark.
Dean you have changed my life! Watched almost every one of your series 7 videos and I just passed with ease!!! Thank you so much! Where can I donate???
Wow! Can send a super chat if you like but not necessary. Kudos on your Series 7 testing victory. What's your next testing victory? 63? 66?
Dean, you are awesome!! Thank you so, so much for all the content you put on this channel. I passed today and know without your videos, I could not have done it!! Really appreciate it!
Kudos on passing your Series 7 exam!
Always very gratifying when my channel contributes to test taking victories like yours.
I appreciate you posting this! I have two and a half weeks until my 7 and the walk through is helpful.
Glad you found it helpful. There is a second one, too.
Did you pass?
Thanks!
De nada!
Got a 75℅ here. Got all the muni questions wrong but got all the options ones right! Time to rewatch the muni lectures!
That's better than being all over the place.
My test is today Dean!! Watching this before my exam in 3 hours!!
Sending you good test vibes!!
Did you pass?
@@mariorazy yeah I passed
Thank you Dean, you are an amazing teacher.
De nada.
Thank you again for such a great upload!!! I would love a muni lecture
There are already two. Enter muni into the channel search bar.
Dean you are the absolute man
Well, thank you.
Thank you for posting this! It is very helpful, sir.
De nada
WOW! This helped me so much! Muni Spreads, Mutual Funds and Type of Quotes were my weakest points but definitely got it down now. Thanks Dean! Two more videos to go! 28/30
Stay thirsty my friend. Lol.
Thank you again for all of the great content you provide! I passed the SIE and the company I work with provided Pass Perfect materials and I don't think it was a great indicator of actual test content. Is the Kaplan test bank still the one you recommend? Thank you!
I do. My 10% discount code at checkout is Guru10.
My sie is in 11 days. Only just found this material, but I plan on diving deep into your videos they seem super helpful
Make sure you check out the SIE lecture playlist.
ruclips.net/p/PLK1IazV_JQbF2DcGDNhX4cFom7TWDByTV
@@Series7Guru awesome I'll be sure to do that. The 7 is a week after
@@Series7Guru is there a certain order I should watch these videos in? I have 8 days I want to maximize my learning
@@Xman305 they are in the playlist in my recommended watch order but be sure to watch all options, munis and mutual funds and everything in the Function 3 of content outline explication.
Love it!! Thank you 💚💚💚 LOTS OF GOOD INFO
Glad you found it helpful.
You’re amazing Dean ! Thank you for this! Just a quick question is shelf registration up to 3 years ?
For WKSI 3 non WKSI 2.
Sure appreciate you walking through this. Feel really confident after the explication.
Being confident in the execution of your study plan and being confident in yourself and your answers on the actual test is a huge advantage in making your mark so it makes very happy to hear that!
1:24:13 I thought the 8.5 sales charge was a FINRA rule, and that it was 9% under the investment company act of 1940. Correct me if wrong, thanks Dean
9 is for face amount certificate companies. 8.5% is the answer on the test.
@@Series7GuruI would never dare to answer 9% lol, the textbook gets too much in the weeds. 8.5% 8.5% 8.5%. Thanks again Dean have a good night
Dean, new subscriber...thank you for all of this! I just landed a job and have 6 weeks to study for the 7. I have not received my material yet ( firm uses pass perfect ). I am a boomer and haven't studied in years and feel overwhelmed. Any advice you can share? I watch about an hour or two of your videos daily to start soaking the material in.
Soon as you get your study materials read the book cover.
Check out this podcast episode ruclips.net/video/M56c8AWZxHg/видео.html
Hi Dean, thank you for all your videos and explanations. this is the BEST material and practice series you have created for the community so far.
I had a question on the #35 timestamp 32:54 . At one point I heard you say the answer is B and the second time you stated answer C. Can you clarify please. I think the answer will be " B".
Check the time stamp in the video description.
@@Series7Guru time stamp is 32:54
@@bhairavipatel6917 i made the correction in the video description. Verbal errata. You can find the correction there.
@@Series7Guru = Thank you Dean.
De nada
Hi Dean, I appreciate all of your help and apologize for all of the questions (my exam is Monday, Nov. 7th) just trying to nail a few things down. In the TestGeek #5 Test question #107 2:03:49 you say the bond most likely to be called is the one the issuer is paying the highest interest on. However, on question #15 of this test (Practice Test 1) 16:44 , the answer to "Call Risk is associated with:" is falling interest rates rather than rising interest rates. Just wondering why that is? Thank you.
Bond price in the secondary is different than call risk
Thank you Dean! I was able to pass the 7 yesterday and your videos were a huge help.
"It has a lot to do with interest rates, and if you just shut up you sound good" hahahahaha
They fluctuate. Lol.
Thank you for all you do, this was very helpful
Glad you found it helpful. There are three more.
Hey Dean, do I need to know about collars or condors on the 7?
No.
Thank you for another great video!
De nada.
Hello Dean i always watched your vids and guess what i passed my SIE today! Thank you for your tips and lessons that really helps me to know that i am ready for it.
Kudos on the first of your testing victories!!!! What's next? 6? 7?
@@Series7Guru I passed it in 1 take. Next is series 6 on April 20. Hope that i will pass as well. 😎😎
Dean, I noticed you mentioned Munis and Corps being T+2. I see this video is pretty old...just confirming they are now T+1. Thanks
Yes. Everything T + 1. I have numerous video updates on this
This was great, thank you for posting!
My pleasure. Glad you found it helpful.
Thank you for this great video, Dean, I scored a 90% on this exam, and have been consistently scoring between 74-81% on Kaplans full exams. How similar would you say this video is to the actual exam and with the scores I'm getting would you say I am prepared to sit for the exam? Thank you.
With a score like that you should not be at risk!
Hi Dean, thanks for the video. For question 106, the answer is B 59 1/2 years old (choose to draw down without penalty)?
For question 119, is A? Activity in the account and Penny stocks in the account? Thanks.
No longer activity in the account just penny stocks.
Thanks. So if there is activity in the stock, it will be quarterly or monthly statements? @@Series7Guru
@emmettkate1370 quarterly
Hey Dean - hope you're well. I took this as a practice test by pausing the video before you explained the question & got a little under a 79. I have 12 days until the test date. Seemed like my weakest links were anything related to market rules & new issues for equities/munis. Any tips on what to go over? I have the Pass Perfect material from work & a Kaplan q-bank.
I feel fairly strong on a lot of the material & I am happy I found your channel/subreddit! Thanks so much!
Think you are in great shape. New issues is in critical function which is only 9 questions total. Have watched my new issue lectures? There is two. One for corporate new issues and one for munis.
#102 stated the stock worth was lower but didnt state the customer sold the stock. I’ve seen similar on other practice tests where the answer was $0 can be deducted. At 1:36.
Any idea how nit picky the actual test is?
I am an expert on the Series 7 test on how nit picky it is or is not. I am not sure what you are referring to. Question 102 is about NAV and POP and 1:32 has no statement the stock is lower. Are you referring to Practice Test 1 or Practice test 2? You can rest assured my questions are valid and you can also check comment section of the practice test video for other test takers think about my practice tests.
I posted on the wrong test. I’m watching at work and commenting on my phone because comments are blocked at work. It was the Kaplan practice final.
Sorry for the confusion. I’ll comment on the Kaplan practice final.
Dean for time stamp 1:14:56 the spread, how do we calculate the selling concession plus the additional takedown? I had a similar question on pass perfect but I am not sure how to add the two together.
The total takedown is two components of the spread. It is the additional takedown and the selling concession. If the additional takedown is 3/8 ($3.75) and the selling concession is 1/2 ($5) the total takedown is 7/8 ($8.75)
@@Series7Guru thank you Dean you are a saint! I dont think you understand how much you have helped me. I watched your videos all week.
Hey Dean, if I knew the answer to almost every question of this test… should I expect the Series 7 to be similar in difficulty level? I know I can get a death draw but generally speaking
This test is not diagnostic. Do the TestGeek.practice test in the playlist. It has very strong correlation to the actual exam
Hey Dean, on question 62, you were going over how the max loss and then switched over to the max gain. Could you please explain that one? Thank you !
62. A. The max loss is 3.5 points. 93.5 breakeven to the strike price 90. Maximum gain is unlimited. Ability to participate in a big price increase but not participate in a big price decline.
Hey Dean, on #35 you stated B but the C as the answer. Can you clarify?
Check the time stamp.
This is so helpful! Test is in a few days!
Glad to hear it. Stay dedicated, disciplined, and organized and I know you will make your mark.
Sir, have you sent any updates since this was posted last year?
There are 9 practice tests on the channel. Some as recent as weeks ago.
@Series 7 Guru thank you, for some reason the series were mixed up and I missed it between the SIE series. I need some brushing up for recovery. Thank you for taking the time to do this.
Hi Dean, I scored an 85% on this one. Watched video 3 before this one and didn't keep score lol. Going to the 2nd practice test now!
I test oct 4th, your videos have been awesome help!
Excellent!
@@Parkerxy25 did you pass?
@@kennnnnnnnnnnnnnnnnnn1242 I did indeed. I recommend watching all of Deans practice exam videos and suitability video! Also the way Dean does options is killer, I recommend to adopt his method.
This is too great !! Totally worth it!!
Glad you like it. I have not been able to figure out why the second one has so many more views than this the first one? Guess test takers are not watching them in order.
@@Series7Guru That must be it. I took your class on Kaplan and passed my 7 2 days ago. This stuff helped to really get after things. I also really liked the wieghted practice test... Doing tests on the Q bank and reviewing questions takes me much longer then an hour and a half....
@@elle5609 KUDOS on passing your exam!!!
would you not say question 22's answer is actually D. General Obligation bond because the default requires a voter's approval?
No, I would not. A moral obligation bond is type of revenue bond
I really appreciate the response I am currently studying before my employer opens the Kaplan tools for me so all of this is foreign to me.
Still confused a bit on 22. Why does the a revenue bond matter here? From what I understand if the resources such as the budget are being used to meet the principal and interest isn’t that a general obligation.
Please elaborate & I will take your response for what it is. Thank you so much !!
@@NicoScotti the vote is not tax payers before the bonds are issued. It is a vote by the state legislature after the bonds have defaulted.
@@Series7Guru this is why you’re the guru. Much appreciated sir. Can’t wait to come back here and tell you that I passed.
Hi Dean! Just to clarify- what are the answers to questions 59 and 60? Also on question 77, you said the answer was B, but I thought it was answer C) specialist or DMM. Just want to make sure I have the correct answers down in my notes for review :) Thanks!!!
The answer to 59 is A. Maximum gain in a covered call is breakeven to the strike price.
The answer to 60 is B. Maximum loss in a covered call is breakeven to zero.
The answer to 77 is C. The DMM is charged with maintaining a fair and orderly market.
Dean, if you were to buy a call for a foreign index? Does the call settle in USD or the foreign currency?
If you exercised the call.
Not testable. Depends where you bought it. Onshore (here) USD. Offshore (outside US) depends.
@@Series7Guru Thanks for the quick reply. It came up in my kaplan Q bank.
On 64 when it asks shorting the stock from having unlimited risk to limited risk wouldnt it be a short put not a long call? I heard that when you are long the call on a short stock you are completed hedged and a short put on a short stock is just limited protection.
That is why the answer is A. Long call on a short stock position is an effective hedge. If stock is above the strike price you exercise your call to close out the short stock position.
The short put is the the wrong answer because it is a partial hedge. You only reduce your risk by the premium received .
Still exposed to unlimited risk in the short stock position.
If the stock is above the strike price put will expire and you are still exposed to UNLIMITED RISK on the short stock position!
You need a choice to buy the stock (long call) NOT an obligation to buy the stock (short put) to change the short stock position from UNLIMITED RISK to LIMITED RISK!
Need to watch this lecture.
ruclips.net/video/Ltx1P-SUHqY/видео.html
So number 35 to establish a short position, isn’t the answer B. Opening sale?
Not C. Closing sale
Wait sorry didn’t see the add* part to the existing short position
Verbal errata. I explained it correctly answered correctly and just before moving on brain fart. The answer for 35 is opening sale and the answer for 36 is closing purchase.
Opening sales are used to establish or add to a short position
Closing purchases are used to eliminate or reduce a short position.
VERY TESTABLE!
All opening sales must be done in a margin account. Only testable exception is an opening sale on a covered call.
The opening sale of a covered call can be done in a cash account.
Have my 7 in two days - recently was referred here. I have been scoring around exactly a 72 on various STC practice exams. How would you recommend I spend my last day studying?
Watch these two for sure:
ruclips.net/video/hI3T3cVMWTw/видео.html ruclips.net/video/7d30UYwp2sY/видео.html
Be sure to a good night sleep night before test.
We love referrals.
how did it go on the series 7?
I though the shelf registration was good for 3 years? I was tonight that in the training course I was provided with.
Depends on the issuer. If the issuer is a WKSI (Well Known Seasoned Issuer of Securities aka wiksey) then indeed 3 years. Most issuers doing IPO are not WKSI's so if not is 2 years. I have changed question 70 moving forward. Next time I explicate the next edition of this practice exam question 70 will read: A shelf registration for a WKSI is effective for how long and now the answer will indeed be 3 years. Thanks for your feedback. Think the 3 years is a better practice question. Reach out with any other issues you discover.
@@Series7Guru Great content as always. I'm curious to know if Finra will specify whether the question will pertain to wiksey or regular issuer? Is this confirmed by anyone you know. Thx in advance.
@@isaacelmi4089 assume not WKSI unless told it is a WKSI.
What was the answer for question Number 60?
Check the video description time stamps
Hey Dean, awesome video thank you a ton. Just a heads up I believe you mis-spoke about question 106 saying it is 72, I believe it is 59.5 to open the window of WD from a QP and 72 where Wd’s are mandatory.
It is indeed 59.5. The time stamp for question 106 has the answer as B.
@@Series7Guru great, thanks for the clarification. I have my CFP education req completed and sitting for the 7 in 2 days. Little nervous and just trying to expose myself to everything so your videos have been incredible, sir.
@@1capitalsfan gthj
Dean, I passed the SIE recently. I haven’t started studying for series 7. As I watch this video I’m noticing the first several questions so far I was able to answers based on my SIE studying. Is there a bIt overlap between SIE and series 7?
There is. Your SIE study effort will pay dividends on your Series 7 study effort.
isn't shelf registration for 3 years ? that's what provider book have questions number 70
Depends on the issuer. Not a WKSI two years. WKSI three years.
Hi guys, for those who passed, what are the steps you took? Should I read everything just once than do practice questions?
Explication and then separate lectures like you do on muni margins suitability.
Heard.
Hello Dean, do you have a list of these 125 questions with the answers marked to review them more easily please?
Sorry. No. Unfortunately, what you see is what you get.
Link for questions 87 n 88 porfavor
Check video description
Does the series 7 have the same questions as SIE? I just passed SIE and am starting to study for the 7
Lots of overlap. Print the pdf of the content outline for both on the FINRA website and compare. KUDOS on your first testing victory!
Is this still relevant a year later or has the content on the test changed?
It is very relevant. If it was not I would remove it. Check out recent comments.
Question 70 : Is the answer 2 years? On my pass perfect course it said 3 years.
WKSI are 3. Non WKSI are 2.
Hi Dean, i scored an 80% on this test, but am averaging around 60% with other vendors. How close do you think this question set is versus Achievable & PassPerfect to the real test?
My tests are teaching tools not diagnostic. Do the TestGeek final on the channel has very strong correlation the actual exam. STC is a little harder. Don't have enough data on Acheivable.
@@Series7Guru thank you!
Q 106 isn't 59 1/2 you can withdraw money without penalty ?
Yes. That was not changed. The answer to 106 is b. 59 1/2.
Ty
De nada
On Question 77 wouldnt the DMM be the one who is charged with maintaining a fair and orderly market in a particular security, NOT the two dollar broker?
Yes. My explanation was correct on each beginning on question 75. Simply gave wrong letter. The DMM as I said is charged with maintaining a fair and orderly market. DMM has the order book with the limits and the stops. DMM must trade at prices better than the limit orders he is holding. Good catch. $2 dollar broker helps floor broker with order over flow.
For number 30, is it the lowest true interest cost or the lowest net interest cost?
Lowest Net Interest Cost
Well this was a dream draw I got an 88 lol
But be prepared for a face of death draw. Lol.
@@Series7Guru I definitely am, gonna show up with a Sword ,Grenade, Machine gun , any weapon to slay this series 7 dragon lol
Just FYI for anyone waiting to take their SIE. The only calculation I had to do was a parity question!
Thanks for the 411. Could you post same at www.reddit.com/r/Series7?
33:35 you said it earlier but you meant 35 is B not C
35 the answer is indeed B. Opening sale is used to establish a short position. Said it correctly just picked wrong letter.
Brain farts are real.
Is 77 D or B?
Check video description
The casual mom has a black card flex? lol
Yep.
circle the answers you kind of ramble on and confuses me.
Not sure what to tell you? Change the channel? If you don't like my channel there are others.
Shelf registration is good for 3 years
For WKSI (Well Known Seasoned Issuer) it is 3 years. For non WKSI it is 2 years.
@@Series7Guru are you sure that for the exam it is 2 years? In my book and everywhere online I am seeing it is three years. But whatever is the correct answer for the exam is the one I want.
@@mattruzicka7209 If it is a WKSI the answer is 3 and that shows up more lately than non WKSI. It was the opposite when I wrote that question for exam 1 in exam 4 I will do the WKSI 3 year version of the shelf. I am sure of testable content. If you don't believe that you need to change channels.
@@Series7Guru sorry really wasn’t trying to be rude with that last comment. I just really wanted to make sure that I know the answer to the question. Sorry again