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Table of Contents
Introduction 1
Part 1: Gearing Up for the Series 7 Exam 5
Chapter 1: Introducing the Series 7 Exam 7
Chapter 2: Preparing for the Series 7 Exam 19
Chapter 3: Examining and Mastering Question Types 33
Chapter 4: Surviving Test Day 45
Part 2: Mastering Basic Security Investments 51
Chapter 5: Underwriting Securities: Bringing New Issues to Market 53
Chapter 6: Corporate Ownership: Equity Securities 71
Chapter 7: Debt Securities: Corporate and US Government Loans 87
Chapter 8: Municipal Bonds: Local Government Securities 113
Part 3: Delving Deeper into Security Investments 145
Chapter 9: Borrowing Money and Securities: The Long and Short of Margin Accounts 147
Chapter 10: Packaged Securities: Open- and Closed-End Funds and Such 171
Chapter 11: Direct Participation Programs: Partnerships 199
Chapter 12: Options: The Right to Buy or Sell at a Fixed Price 211
Part 4: Taking Care of Your Customers and Playing by the Rules 261
Chapter 13: Portfolio and Securities Analysis: Examining Companies and the Market 263
Chapter 14: Going to Market: Orders and Trades 287
Chapter 15: Taxes and Retirement Plans: Making Sure the IRS Gets its Share 309
Chapter 16: Rules and Regulations: No Fooling Around 331
Part 5: A Couple Practice Exams 369
Chapter 17: Practice Exam 1 371
Chapter 18: Answers and Explanations to Practice Exam 1 391
Chapter 19: Practice Exam 2 411
Chapter 20: Answers and Explanations to Practice Exam 2 431
Part 6: The Part of Tens 449
Chapter 21: Ten Series 7 Exam Traps to Avoid 451
Chapter 22: Ten Ways to Start Your Career Off Right 455
Appendix: Important Figures and Formulas 459
Index 461
