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 US Government Loans 87 Chapter 8: Municipal Bonds: Local Government Securities 113 Part 3: Delving Deeper into Security Investments 145 Chapter 9: Borrowing Money and Securities: The Long and Short of Margin Accounts 147 Chapter 10: Packaged Securities: Open- and Closed-End Funds and Such 171 Chapter 11: Direct Participation Programs: Partnerships 199 Chapter 12: Options: The Right to Buy or Sell at a Fixed Price 211 Part 4: Taking Care of Your Customers and Playing by the Rules 261 Chapter 13: Portfolio and Securities Analysis: Examining Companies and the Market 263 Chapter 14: Going to Market: Orders and Trades 287 Chapter 15: Taxes and Retirement Plans: Making Sure the IRS Gets its Share 309 Chapter 16: Rules and Regulations: No Fooling Around 331 Part 5: A Couple Practice Exams 369 Chapter 17: Practice Exam 1 371 Chapter 18: Answers and Explanations to Practice Exam 1 391 Chapter 19: Practice Exam 2 411 Chapter 20: Answers and Explanations to Practice Exam 2 431 Part 6: The Part of Tens 449 Chapter 21: Ten Series 7 Exam Traps to Avoid 451 Chapter 22: Ten Ways to Start Your Career Off Right 455 Appendix: Important Figures and Formulas 459 Index 461.