Series 7 Practice Test: Free FINRA General Securities Representative Exam Questions (2026)

267 practice questions for FINRA's Series 7, the General Securities Representative exam you pass, together with the SIE, to sell most kinds of securities at a member firm. They follow FINRA's 2025 content outline and its four job functions, weighted the way the real exam is: seeking business (7%), opening accounts (9%), information, recommendations and records (73%) and processing transactions (11%). The heavy math is here: option breakevens, spreads and straddles, margin calls and SMA, tax-equivalent yield, accrued interest, sales charges and financial ratios, each worked out step by step. Every question is tagged to its outline task, so your score report shows exactly where you miss, and every answer explains why the best choice is best, gives you a Remember line, and links the rule or page it comes from.

The real test: 125 scored multiple-choice questions plus 5 unscored pretest questions (130 in all) in 3 hours 45 minutes. FINRA lists the passing score as 72 on an equated scale, so there is no fixed percent; the fee is $395, you need a sponsoring member firm, and the SIE is a corequisite (you must pass both to register). It covers 4 major functions: seeking business (7%), opening accounts (9%), information, recommendations and records (73%) and processing transactions (11%). Our practice test is full length, 125 scored questions plus 5 unscored, split like the outline, passing at 72% (90 of 125).

Passing score: The Series 7 passing score (72), the SIE corequisite and the retake waits

Here: 267 questions. Our own practice questions, built on FINRA's General Securities Representative (Series 7) content outline and written from public sources (the 1933 and 1934 Acts, the Investment Company Act of 1940, SEC rules, Regulation T, FINRA and MSRB rules, the OCC's options disclosure document, Investor.gov, TreasuryDirect and the IRS), with every answer's source linked. Topics are the exam's 4 major functions. Not FINRA's exam questions. Free.

What's on the test

"On the test" is the rough share of a 125-question test for each topic, following the exam's published weights.

10 sample questions

1. A rep emails the same market commentary to 20 retail customers this month and to no one else. How does FINRA classify the email?

   • A.A retail communication a principal must approve before use
   • B.Sales literature that must be filed with FINRA before anyone sees it
   • C.An institutional communication exempt from any review
   • D.Correspondence, supervised under the firm's review procedures
   Show answer

   D. Correspondence, supervised under the firm's review procedures

   S7-1 · 1. Seeks Business for the Broker-Dealer from Customers and Potential Customers · FINRA Rule 2210

2. Two sisters own a brokerage account as tenants in common, 60% and 40%. The sister with 60% dies. What happens to her share?

   • A.It is frozen until the account is closed out
   • B.It goes to her estate, to pass under her will
   • C.It is split evenly between her sister and heirs
   • D.It goes to her sister by right of survivorship
   Show answer

   B. It goes to her estate, to pass under her will

   S7-19 · 2. Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives · LII Wex: Tenancy in Common, LII Wex: Joint Tenancy

3. A stock has a beta of 1.4. If the overall market rises 10%, what move would you expect from the stock?

   • A.Up about 4%
   • B.Down about 14%
   • C.Up about 14%
   • D.Up about 10%
   Show answer

   C. Up about 14%

   S7-44 · 3. Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records · Investor.gov: Market Index, Investor.gov: Risk

4. A customer sold a stock short at $50. It now trades at $47. Which order best limits her loss if the stock climbs?

   • A.Sell limit at $53
   • B.Sell stop at $45
   • C.Buy limit at $45
   • D.Buy stop at $53
   Show answer

   D. Buy stop at $53

   S7-239 · 4. Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions · Investor.gov: Stop Order, Investor.gov: Order Types

5. A rep drafts a newspaper ad for the firm's bond desk. When must a qualified registered principal approve it?

   • A.Within 30 days after the ad first appears in print
   • B.Only after a customer complains about what it says
   • C.Before the earlier of its first use or its filing with FINRA
   • D.Never, because an ad that names no single bond is exempt from review
   Show answer

   C. Before the earlier of its first use or its filing with FINRA

   S7-2 · 1. Seeks Business for the Broker-Dealer from Customers and Potential Customers · FINRA Rule 2210

6. A margin customer buys and sells the same stocks within the day several times a week. Under FINRA's margin rule as amended June 4, 2026, what does the firm now track for each day with risk-increasing trades?

   • A.Her count of day trades in 5 days, against a $25,000 floor
   • B.Any intraday margin deficit, which the customer must make up
   • C.Her trade count, closing the account after a third day trade
   • D.Only her end-of-day equity; trading during the day is ignored
   Show answer

   B. Any intraday margin deficit, which the customer must make up

   S7-20 · 2. Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives · FINRA Rule 4210

7. Using the capital asset pricing model, what return should an investor expect from a stock with a beta of 1.2 if the risk-free rate is 4% and the market return is 9%?

   • A.6%
   • B.13%
   • C.10.8%
   • D.10%
   Show answer

   D. 10%

   S7-45 · 3. Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records · Investor.gov: Market Index, Investor.gov: Risk

8. A customer enters a sell stop-limit order at 32 stop, 31.75 limit. The next trades are 32.10, 31.90, 31.70, 31.80 and 31.75. At which trade could the order first be filled?

   • A.$31.90
   • B.$31.80
   • C.$32.10
   • D.$31.70
   Show answer

   B. $31.80

   S7-240 · 4. Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions · Investor.gov: Stop Order, Investor.gov: Limit Orders

9. A broker-dealer became a FINRA member four months ago and wants to run a radio spot about its services. What does the filing rule require?

   • A.File it with FINRA at least 10 business days before first use
   • B.File it with FINRA within 30 days after it first airs
   • C.No filing at all, since a radio spot names no security or price
   • D.File it with the SEC instead of FINRA, before it airs
   Show answer

   A. File it with FINRA at least 10 business days before first use

   S7-3 · 1. Seeks Business for the Broker-Dealer from Customers and Potential Customers · FINRA Rule 2210

10. A pension fund's account is set up delivery versus payment (DVP). What does that mean for its purchases?

    • A.The broker-dealer holds its securities in street name for it
    • B.It must prepay every purchase in cash before the trade date
    • C.Its custodian bank pays only when the securities are delivered
    • D.The fund's purchases settle the same day in cash, every time
    Show answer

    C. Its custodian bank pays only when the securities are delivered

    S7-21 · 2. Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives · FINRA Rule 4210, SEC: Clearing Agencies

What the study guide does

• Short study rounds and flip cards.
• A practice test built like the real one: 125 questions, 90 to pass.
• Pass Meter: your chance of passing if you sat the test today, worked out from your own answers.
• An explanation for every answer.