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 U.S Government Loans 87 Chapter 8: Municipal Bonds: Local Government Securities 111 Part 3: Delving Deeper into Security Investments 143 Chapter 9: Borrowing Money and Securities: The Long and Short of Margin Accounts 145 Chapter 10: Packaged Securities: Open- and Closed-End Funds and Such 167 Chapter 11: Direct Participation Programs: Partnerships 193 Chapter 12: Options: The Right to Buy or Sell at a Fixed Price 205 Part 4: Taking Care of Your Customers and Playing by the Rules 251 Chapter 13: Portfolio and Securities Analysis: Examining Companies and the Market 253 Chapter 14: Going to Market: Orders and Trades 275 Chapter 15: Taxes and Retirement Plans: Making Sure the IRS Gets Its Share 293 Chapter 16: Rules and Regulations: No Fooling Around 315 Part 5: A Couple Practice Exams 351 Chapter 17: Practice Exam 1 353 Chapter 18: Answers and Explanations to Practice Exam 1 373 Chapter 19: Practice Exam 2 393 Chapter 20: Answers and Explanations to Practice Exam 2 413 Part 6: The Part of Tens 431 Chapter 21: Ten Series 7 Exam Traps to Avoid 433 Chapter 22: Ten Ways to Start Your Career Off Right 437 Appendix: Important Figures and Formulas 441 Index 443.