My Series 7 Tutoring Experiences in NYC
My Series 7 tutoring experiences in New York City come from thousands of hours of experience. In today’s post, I put together a few of the repeated observations I’ve noticed while tutoring Series 7 exam candidates.
1. Most People Can Only Squeeze in Two Solid Hours of Studying Per Night
As much as every student likes to think they will have plenty of time to study, most overestimate their free time. Genuinely consider how often you get asked to stay late (once a week? once a month? etc.). Also consider how much time you need to eat, clean-up, or just unwind after work. Lastly, unless you have extreme discipline you will probably only be able to squeeze in a few hours a day on the weekends too.
2. Definitions Get Overlooked
No doubt that anyone new to the industry has a lot to learn. Among the first on that list are all of the rules covered for registered representatives. The Securities Exchange Act of 1934, the meaning of Rule 144A, and Regulation T are just a few that come up in Series 7 exam tutoring sessions. To most, they have no real significance. Until you become more familiar with the rules, the best you can do in your Series 7 exam prep is constantly review definitions and rules, in order to commit them to your long term memory.
3. A List of the Most Challenging Series 7 Topics (In No Particular Order)
- Options
- Conversion Ratios (Convertible Bonds or Preferred Stocks)
- Margin
- Yield to Maturity (Fixed Income)
- Securities Acts
I can attest that for a Series 7 tutor NYC provides a statistically significant number of students from which you can discern the most challenging topics. Time and again the above surface as the most difficult. I don’t expect options to be particularly surprising. Most seem to anticipate that one. That said, the different types of bonds, margin calculations, and conversion ratios trip people up. Take each of those one by one. Understand them thoroughly because they will more than likely show up on the exam. Now, I really don’t have any secret here. You have to just learn them, and study them. Put in the time.
4. Many Candidates Postpone the First Series 7 Exam Date
Finally, throughout my Series 7 tutoring experiences, I’ve seen wide-eyed optimism quickly reverse on many occasions. Due to unanticipated conflicts, lack of preparation, and sometimes an underestimation of the material itself, many students postpone Series 7 exam date after the first time they set it. While there is nothing wrong with this (as long as your boss is cool with it), it’s a clear sign that there is less time to study than previously thought. Therefore, decide on a date and then add an extra week to estimate just to be safe.
Overall, at any given time there are hundreds (maybe thousands) of people preparing for the Series 7 exam in New York City. Work-life balance in this city is challenging enough. Passing the Series 7 exam is no easy task. On top of a busy schedule it can be a recipe for sleep deprivation and long nights. Whether or not you pick Professional Exam Tutoring for your Series 7 exam tutoring needs, I hope you can benefit from the experiences I’ve gathered.