RequirementsSeptember 2, 20266 min read

Series 7 Requirements 2026: Who Can Sit the Exam and What It Costs

Before you can book a seat you have to clear FINRA’s eligibility gates. Here is exactly what they check, in the order they check it.

  • 130Questions
  • 225 minTime limit
  • $395Exam fee
FINRA Series 7 - General Securities Representative exam eligibility and requirements overview

Table of Contents

What the Series 7 credential is

FINRA Series 7 - General Securities Representative is awarded by FINRA. You cannot sign up for it yourself: a FINRA member firm, or another applicable SRO member firm, has to sponsor and enrol you. Passing it together with the SIE gives you the General Securities Representative registration.

The eligibility gates, in order

There are three, and the first one decides the rest: without a sponsoring firm there is no enrolment. None of them involves a transcript or a minimum amount of experience.

Gate 1

You must be associated with and sponsored by a FINRA member firm or another applicable SRO member firm

Gate 2

The SIE is a corequisite - the General Securities Representative registration needs both

Gate 3

Your firm files the Form U4 that enrolls you

Three hours 45 minutes for 130 items, five of which are unscored. Sitting the SIE first is the common route because it needs no sponsor, which lets you clear half the requirement before you are hired.

What it costs

The exam fee is $395 per attempt. FINRA raised it from $300 on 1 January 2026, and its published fee schedule holds it at $395 through 2029. A retake is charged again at the same rate. If you have not passed the SIE yet, add its $100 fee.

What the exam itself looks like

Questions130 total — 125 scored, 5 unscored pretest items
Time limit225 minutes
Passing standardA scaled score of 72 passes — not 72% of questions correct
Fee$395

How long the process takes

Two clocks matter. The first is the firm: you cannot be enrolled until a member firm sponsors you, so the exam date follows the hiring date. The second is the enrolment window: once the firm enrols you, the enrolment is valid for 120 calendar days and your window to schedule opens the day after. If it lapses unused, you need a new enrolment.

Plan backwards from the date you want to sit. Passing the SIE before you are hired takes half the requirement off that clock, because the SIE needs no sponsor and a pass stays valid for four years.

Why applications get sent back

There is no transcript, licence or experience file for FINRA to reject. What goes wrong is the route: a candidate who is not yet associated with a firm cannot be enrolled at all, and an enrolment left unused for 120 days lapses. Settle the sponsorship first, then book a date you can keep.

Once you are enrolled, the work is question volume. Practise Series 7 questions free and find out where you actually stand before you book a date.

FAQ

Who is eligible to sit the Series 7 exam?

You must be associated with and sponsored by a FINRA member firm or another applicable SRO member firm The SIE is a corequisite - the General Securities Representative registration needs both Your firm files the Form U4 that enrolls you

How much does the Series 7 exam cost?

$395 per attempt since 1 January 2026, up from $300, and FINRA's fee schedule holds it there through 2029. A retake costs the same again, and the SIE co-requisite is a separate $100.

How many questions are on the Series 7 exam?

130 questions, of which 125 are scored and 5 are unscored pretest items.

How long does Series 7 approval take?

There is no transcript or experience review. Once your sponsoring firm enrols you, the enrolment is valid for 120 calendar days and your window to schedule opens the day after. If it lapses unused, you need a new enrolment.

Sources

Every figure on this page comes from the certifying body, not from a third-party summary:

Checked October 9, 2026. Fees and eligibility rules change; confirm against FINRA before you pay anything.