Series 7 Exam Prep (@Series7ExamPrep)


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A firm can function as either a Broker or as a Dealer, but can not act as both in the same transaction.
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DEALER - A firm that buys and sells securities for its own account rather than as an agent
OFFER - The price at which a person is ready to sell; BID - the price at which one is ready to buy
MARKET ORDER -An order to buy or sell a stated amount of a security at the best price obtainable immediately after the order is entered
European Callable Bonds can be called by the issuer only on pre-specified dates.
American Callable Bonds can be called by the issuer any time after the call protection period.
Bond Type Characteristics used in Valuation: 1. Issuer, 2. Priority, 3. Coupon Rate, 4. Options
Corporate bonds, Municipal bonds and T-Bills use a 360 day convention when calculating accrued interest
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COUPON RATE - The stated, fixed, or nominal interest rate for a bond
CORPUS - Portion of an interest bearing security that states principal owed; COUPON -Portion that states interest payments
TREASURY BONDS: Maturity >10 yr, Par Value:$10,000, How bid: Dollar now; yield pre-2002
TREASURY NOTES: Maturity: >1yr <10 yr, Par Value: $1,000, How bid: yield
TREASURY BILLS: Maturity < 1 year, Par Value: $1,000, How bid: dollar. for FINRA Series 7 Exam Prep resources
Types of Money Market instruments: Repos, Fed funds, Commercial paper, Negotiable CDs, Bankers Acceptances, T-Bills
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MONEY MARKET - The market for short-term debt instruments maturing in one year or less
CORPORATE COMMERCIAL PAPER - Unsecured notes issued by corporations with a typical maturity of 30 days
Fixed-income securities classifications: TBills - maturity of less than 1 year; Notes - 1-10 years; Bonds - 10+ years

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Daily Series 7 Study Bullets. Key concepts tweeted every day for aspiring stockbrokers & anyone studying for the FINRA Series 7 General Representative exam.

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