Series 7 Audio Library

The questions that tripped you up on the road to 70%. Covers why intuitive answers are often wrong — from municipal advertising rules and short margin interest to mutual fund pricing traps, put exercise tax math, and the gift vs. entertainment distinction.

A deep dive into 36 of the trickiest Series 7 exam questions — the ones designed to punish surface-level understanding. Breaks down why the "obvious" answer is wrong and how to recognize the exam's favorite misdirection patterns.

Nineteen wrong answers dissected — from confusing the 1933 and 1934 Acts to mixing up IRA transfers and rollovers. Covers underwriting spread components, basis point math, open interest mechanics, interval funds, VRDOs, and why the answer that feels right is often the one the exam wants you to pick.

A comprehensive overview of equity securities - from the 1792 Buttonwood Agreement to modern ADRs. Covers common stock, preferred stock, dividends, shareholder rights, stock splits, warrants, and American Depositary Receipts. The foundation for everything else on your Series 7 exam.

How investment companies work - from mutual fund pricing and share classes to ETFs, REITs, and UITs. Covers NAV calculations, front-end vs. back-end loads, breakpoints, prohibited practices, and the key differences between open-end and closed-end funds.

A deep dive into how securities markets are structured - from the first market (exchanges) through the fourth market (dark pools). Covers the critical distinction between brokers and dealers, and why understanding market structure matters for the Series 7 exam.

From order ticket to settlement - how trades actually get processed behind the scenes. Covers prohibited trading practices, clearing corporations, T+1 settlement, and good delivery requirements.

Everything that happens when you open a brokerage account - from customer identification and anti-money laundering to suitability requirements and senior investor protections. Covers CIP, KYC, Regulation S-P, Reg BI, Form CRS, and the rules that protect vulnerable investors.

An extended deep dive into the Customer Identification Program (CIP), Know Your Customer (KYC) requirements, and suitability obligations. Covers anti-money laundering thresholds, SAR/CTR/MIL requirements, the three components of suitability, Reg BI's four obligations, and senior investor protections in greater detail.

How margin accounts work and why they exist - from the 1929 crash to modern Reg T requirements. Covers initial margin, maintenance requirements, short selling, and the paperwork needed to open a margin account.

An extended deep dive into margin mechanics, fiduciary obligations, custodial and trust accounts, joint and business accounts, and options account requirements. Covers leverage calculations, maintenance calls, and the regulatory framework for specialized account types.

How to recognize and understand multi-leg options strategies that bet on volatility instead of direction. Covers long and short straddles, strangles (combinations), the difference between the two, suitability signals, and how to spot them on the exam.

The tax mechanics behind premium and discount bonds - accretion, amortization, and the phantom income that catches investors off guard. Covers cost basis adjustments, the mandatory rules for municipal bonds, OID treatment, and why the IRS taxes your bond's journey to par every single year.