Tips and tricks for the Series 7

 

Don’t get me started on T-charts with options, they almost ensure that you have no idea what an actual option does and can only help if they ask basic math questions. All my students have come back to me stating that there are less math and more suitability in general but definitely with the option questions. I don’t see how you can fit grandma’s (retail customer) needs, fears and expectations into a T-chart. You have to know the what options do and what they are for, not as well as a trader knows them but well enough to explain them to your mom.

1 Do not memorize the book,

2 Do not over highlight (you have no idea what is important or not)

3 Do not read the book only once (if you  are following 1 and 2 it won’t be so bad)

4 Do not just do Q’s (the ones giving that advice probably would have passed, no matter how they studied

5 Do not sweat the margin

6 Do not stay up late the night before cramming (it won’t help)

7 Do not blow off customer accounts(easy ones to get if you keep going over it)

8 Do not worry about getting questions wrong or feel like you are guessing (everyone feels that way and you WILL get 30-40 wrong and can get up to 70 wrong and still pass)

9 Do not feel bad if your studying goes longer than you expect and do NOT let people pressure you into picking a test date

10 Do not freak if you don’t pass a lot of extremely successful people have failed this exam more than once and it had no bearing on how talented or successful they were.

YOU will be fine and do not let this test define your self-worth and after you pass you can take your friends out to make up for the 6-8 weeks you have been ignoring them.