Series 7: 3.6.16 Rule G-16—Periodic Examination For MSRB Compliance

Taken from our Series 7 Top-off Online Guide

3.6.16 Rule G-16—Periodic Examination for MSRB Compliance

At least once every four years, each broker-dealer that is a FINRA member will be examined by FINRA to evaluate its compliance with MSRB rules, the applicable provisions of the Securities Exchange Act of 1934, and SEC rules and regulations. Recall that the MSRB is not an enforcement agency. It only makes the rules.

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In preparation for the Series 7, I began with Kaplan. I tested and did not pass. I then switched to STC materials. I tested and did not pass. I then switched to Solomon and passed! I also used Solomon for the 63 and passed the first time. I highly recommend Solomon's test preparation materials. The question bank was far more extensive than the others and I definitely felt better prepared using Solomon.

Kara S, CLS, Carrollton, TX

I had a super rough go passing this (Series 7) exam due to a number of personal circumstances, but on my third attempt, I finally passed, with 30 minutes to spare! After my second failed attempt (I failed by ONE question), I spoke to Jeremy Solomon on the phone and via email, and he provided me with some strategies to help me pass the exam once and for all. I focused heavily on rereading the study guide, and teaching concepts to my spouse so that I wasn’t just learning the information, but really understanding it to the point where I could teach it to someone else. The exam simulators are super helpful, but don’t overdo it… this really isn’t the kind of test where you can only learn by doing practice questions. Re-watching the video lectures was very helpful for me as well. I also recommend making flash cards for memorization purposes. If you fail like me, don’t give up - perseverance (and more studying) will get you to the finish line!

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