The Series 7 exam, administered by the Financial Industry Regulatory Authority (FINRA), is a crucial licensing examination for individuals aiming to work as general securities representatives or stockbrokers in the United States. Sponsored by FINRA member firms, candidates must pass the comprehensive exam covering investment risk, securities types, regulatory requirements, and customer accounts. Successfully passing the Series 7 qualifies individuals to engage in a broad spectrum of securities transactions. It is a prerequisite for buying and selling various securities, including stocks, bonds, and options. Depending on state requirements and specific job roles, individuals may also need to take additional exams like Series 63 or Series 66.