Series 7 Cost and Format
The Series 7 exam costs $395, and the format is 125 scored questions (plus 10 unscored pretest items) in 3 hours 45 minutes, with a passing score of 72. Both the fee and the format are numbers the internet gets wrong at scale right now, so here’s each one with its history (verified July 2026 against FINRA’s published figures).
The fee: $395 since January 1, 2026
FINRA raised the Series 7 fee from $300 to $395 effective January 1, 2026, under filing SR-FINRA-2024-019, and the fee schedule holds it flat through 2029. Most prep sites and forum threads still quote $300; some still quote older figures than that. As with the SIE®, the fee is a good freshness test for any source: if it doesn’t know the current fee, question its settlement dates and gift limits too.
The same filing moved other FINRA exam fees at the same time: the SIE went to $100, the Series 6 to $100, and the Series 24 to $235. NASAA’s exams (Series 63, 65, 66) were not part of it: NASAA sets those fees, and they didn’t change.
One structural difference from the SIE: you can’t pay this fee on your own initiative. Series 7 enrollment requires a sponsoring member firm to file your Form U4: there’s no self-enrollment window. Whether the firm or the candidate ultimately bears the $395 is between you and your firm. For the exam you can enroll in yourself, see how much the SIE exam costs.
The format: 125 scored questions, 225 minutes
| Attribute | Value |
|---|---|
| Scored questions | 125 |
| Unscored pretest questions | 10 (mixed in; you can’t tell which) |
| Total on screen | 135 |
| Time | 3 hours 45 minutes (225 minutes) |
| Passing score | 72, scaled and equated |
| Delivery | Prometric |
That works out to about 100 seconds per question, roomier than the SIE’s pace, which fits an exam whose questions run longer and lean on multi-step reasoning (options math, suitability scenarios). The 72 is a scaled score, not a raw 72%: FINRA equates across exam forms so a passing standard on a harder form equals the standard on an easier one.
The stale number to watch for: “250 questions, 6 hours”
Before October 2018, the Series 7 really was 250 questions over six hours. Then FINRA moved the foundational material into the SIE and cut the Series 7 to its current 125-scored-question form. The old description is fossilized across the web, and it materially misstates what you’re preparing for: the modern exam is half the length and assumes you’ve already proven the basics on the SIE. If you’re deciding how the two exams split the material, Series 7 vs SIE lays it out.
Retakes: another $395, plus a wait
There’s no retake discount: each attempt is a fresh $395 enrollment through your sponsoring firm.
Current-Fact Watch (checked October 24, 2026): Retake waiting periods are in transition. Through January 18, 2027, the rule in operation is 30 calendar days after a first failed attempt, 30 after a second, and 180 after a third and beyond within two years. From January 19, 2027, those waits drop to 15, 15, and 60 calendar days: FINRA filed SR-FINRA-2026-014 (June 29, 2026) amending Rule 1210.06, and Regulatory Notice 26-18 (October 14, 2026) set the date. If you’re still waiting on January 19, 2027, FINRA moves an open enrollment with no appointment booked to the shorter wait that day, and any retake enrollment requested on or after that date gets the shorter wait automatically. FINRA can’t move a window that already has an appointment, and it won’t shorten anyone’s wait before January 19. The change applies to FINRA exams only; NASAA’s Series 63/65/66 have their own waits, with the wait after a third failure dropping from 180 to 60 days for enrollment windows opened on or after January 4, 2027. Our SIE retake rules page tracks the same transition, since Rule 1210.06 governs both exams.
The cost you control
The $395 is fixed; what you spend preparing isn’t. Our position doesn’t change between exams: practice should be free, with every answer verified against current rules and cited to its source. The Series 7 practice exam page covers what we’re building and where to practice today, and the full picture of the exam (functions, weights, and the path through sponsorship) is in the Series 7 exam guide.