Series 7: 5.2.4.1. Contract Size

Taken from our Series 7 Online Guide

5.2.4.1. Contract Size

Options contracts come in increments of 100 shares of the underlying stock. The minimum purchase is one options contract, or 100 shares.

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I am still so giddy that I passed my Series 7 on 1/31. I truly cannot believe it. I took the 7 three times in 2019 utilizing Kaplan study materials and didn't feel good going into the tests any of the times. So shockingly I failed all three times by a lot. My highest score was a 68%. I used Solomon for my 51 in September (passed on the first try) so I thought I could try it for my 7 even though it is the hardest securities test I have taken. I felt so good going into the testing center and I passed!!! I am so grateful to have found your materials. They have been incredibly helpful and I am able to understand all the material covered in the books. I still am in shock that I passed. Now off to the 24!

Briana Turner, Cambridge Investment Research. Virginia Beach, VA

Just passed the Series 7 on the first attempt! Many questions on the FINRA exam forced me to consider scenarios from a different perspective, and the conceptual understanding the Solomon materials and study plan facilitated allowed me to apply my knowledge appropriately. If I need another license in the future, I'll rely on Solomon to help me prepare.

Dave Stakland Cambridge Investment Research Fairfield, IA

Solomon exam prep materials are the best! I have passed the SIE, Series 7, and Series 66 in less than 12 months using their materials. Their products are fantastic! The practice exams are excellent, and the probability calculator is spot on. I followed the provided customized study plan and took practice exams (over 20 lol) until my probability calculator was in the green (indicating a higher probability of passing) and the rest is history. There are no shortcuts. You must put in the work and stay disciplined, but the Solomon program WORKS and I would HIGHLY RECOMMEND them to anyone looking for amazing, comprehensive study materials to prepare for industry examinations.

Brandon Collins, Benchmark. Memphis, TN

Completing the Series 7 was a requirement for my current position. After seeing the material and dedication Solomon Exam Prep put into the SIE material, I knew Solomon’s material would be perfect for me again. I had access to STC material and tried to go through it first but it was too content heavy and at certain points, very confusing. I decided to move back over to Solomon for the 7 and was blown away yet again by how great the material is. Solomon has figured out how to properly prepare people for this exam in my opinion. Solomon Exam Prep focuses on teaching the concept rather than bogging you down with so much material. THAT IS SO HELPFUL! Of course the material is important but it’s extensive. After using Solomon Exam Prep for the Series 7, I was able to fully understand the concepts which made it so much easier to select the best questions on the exams. All the other training programs bury you deep with content, which makes it almost impossible to understand the concepts. If you get questions on the exam that you have not seen before, only knowing specific material will not help you. But if you understand the concepts (like Solomon Exam Prep helped me do) you can break down the question and find the best answer based on your understanding of the concept as a whole. That’s a much better method and Solomon Exam Prep has figured this out! I strongly suggest buying the study guide. You won’t regret it!

Jared M. Albany, New York

I found Solomon Exam Prep from a general comment that probably came from someone who works for the company. It went along the lines, "Solomon Exam Prep also has study materials for the 7" (goes to show you that inbound marketing works) I tried the STC program that most firms provide, mine included. Didn't like it, and many people on the forum that went that route mentioned they didn't feel adequately prepared for the real exam. In the STC program you can only take each quiz and practice exam 1 time. Also tried Kaplan's cheap 2 test simulation package but despised the components of the simulation, the mark for review button didn't let me go back to review the test before submitting it, and it took forever to "save" my answers before moving on to the next question. It was just a badly developed program. It wasn't improving my scores nor did it help me to better understand the material. I tried Solomon's out because it was comparable in price to Kaplan's exam simulation program but I hate Kaplan's simulator. solomon's had a larger question bank, and both provided unlimited tests which was my real requirement. Loved Solomon's exam simulator program from the start, and the Finra Concept tests combined with the simulation exams is what really improved my score. Solomon will be the only company I use to prepare for all exams I may have in the future and I highly recommend it. Solomon got a life-long repeat customer all because of a generic comment from a random forum.

Alex

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