And every year, I tell them that my license is long expired and that you can’t take the Series 7 on your own, anyway. You have to be sponsored by the registered broker dealer that will hold your license.
And then they want to know if there is a broker dealer that will sponsor them so that they can get the credential in order to get the job.
Here’s how to deal with the situation: start studying for the exam while you are looking for a job that requires it. The firm will want you to get licensed, and licensing is part of their cost of doing business. Amazon has several study guides for sale, and larger libraries often have them on the shelves, too. If you start studying, you can show that you understand the requirements of the job and that you will be ready to go as soon as possible, even if you can’t take the test yet.
On the other hand, if you are offered the job and do not pass the exam, you will be fired. It’s a legal requirement. Most firms have stories of hotshot MBAs who did not take the requirement to pass the Series 7 seriously, and who were stunned to find out that they could actually lose their fancy investment banking job over it.
(This applies to many other professional licensing exams, by the way.)
