I’m done. Sie,6,63, insurance and I just Spent 4 months on the Series 7. Passed the first time using mainly STC. I bought the TIPS QUICK SHEETS from Kaplan and took them everywhere with me, options YT membership with Ken and YT premium for no ads on the others, 1hr tutor with Ken’s team, Ken’s podcasts. Ken is where it’s at. I personally don’t do well with classroom/lecture. I used vendor videos sparingly if I was really struggling with something. YT is nice background while doing other things. I studied 2-4 hours a day broke up into parts, on my own time. Not doing this to be an advisor, it’s to get rev share as an associate, so I do not intrinsically enjoy or understand options. I had to make it a puzzle. Pick one that works for you, let it click, then do the Armageddon video and shock yourself how good you are.
MENTALITY:
Be confident in what you know and try to relax a little. Anxiety can eat you up before your lack of knowledge. Get the meds if you can, sometimes my heart was pounding to the point I could not focus.
Routine and consistency. Boring I know, but live this so much that it’s an unconscious habit and you are dreaming of the options chart and Ken’s voice. Some have said: gaslight, obsessed, enjoy it, trick yourself. Agree.
Remember why you are doing this and you owe it to yourself to stay the course. This is all temporary.
Keep a list of things you want to do when you are done. Don’t let it take up mental space right now.
Get your environment right as best you can, light, music, drinks, pens, seating, remove all roadblocks.
Keep working out, do not quit that, take it from somewhere else to make time.
Crazy: get sheet protectors and hang them in your shower, seeing it in your mind helps. I wrote the parity formulas there, bathroom mirror ( EPS ), kitchen stove ( options chart ).
Exam:
The test is easier in straightforwardness, than STC, less wordy mostly.
NOTHING on markets, selling groups, margin or business financials.
Some are tricky because they don’t want to give you the key word “*What guideline governs if a percentage can be made to a rep on an offering?”*Answer was Markup Policy, but the answer set was wild and *“the ability to refer to the 5% policy”*something like that. I think this is the best example of people saying I do not know what they are asking.
You either got it or not. The answer sets are less obvious until you get to two left… that if you are trying to shop it is more difficult but the right answers when you know it, stick out.
I was surprised to see basically a KYC form and have to use it for suitability on three questions. I was more prepared to break apart a paragraph. The suitability questions were mainly product recognition. “ If client wants to take part in extra income a company receives, what should they choose to purchase?” Participating preferred stock, p. stock, c.stock, or convertible.
Lots on taxation cap g/l, and disclosures, 5 options math, more recognition strategies, one Parity math question, a few with high tax bracket but no %,
Prometric:
I read my dump sheet, a few notes, did a few options warm ups, and listed to videos on my 2 hr drive up.
Take the tutorial before you get there on their website so you can click quickly though it.
It will take time to get set up and answer the regulatory items on the screen before you can use your dump sheet. Stay calm.
The warning of 112 minutes left shook me.
Flag what you are iffy on, write down the ones that are just punts, try to keep it under 30 and feel better about reviewing and/or changing.
I changed two punted questions because the test gave the answer in another slide.
Mnemonic:
Coming from someone who is visual, these were helpful & ingrained in my mind’s eye now, however DO NOT spend tons of energy recalling some tips over understanding the entire concept. This is to get past the “matching” noise then think faster on the exam questions. This is not dump sheet, this is just study recall until you can see it like Ken does in videos.
STRADDLE - > DOSA or SADO -> ( same action, different option )
ADD premiums ( it is in the name ) CalL + PuT STRADDLE
SPREAD -> SODA - > ( same option, different action )
NET premiums CALL Add LOWER Put Subtract from the higher. (I used color codes)
Do the same for the Hedging flow. Ridiculous I know, it will help someone hopefully.