The securities industry undergoes constant change, and the six-hour Series 7 Examination to certify stockbrokers constantly changes with the times. This newly enlarged and updated manual reflects the most recent Series 7 exams in length, question types, and degree of difficulty. An updated introduction gives an overview of the test with information on registration fees, how the test is administered, and how test takers can register. The bookas first ten chapters constitute a self-teaching course that covers every aspect of the securities industry. It explains various types of securities and offers an overview of business law, the functioning of the New York Stock Exchange, and other major markets. It also explains the structure of investment companies, the Federal Reserve System, margin accounts, options, and securities analysis. A final chapter consists of two full-length model Series 7 exams with answers. This self-study manual and its model exams provide comprehensive preparation for the difficult but important Series 7 Examination.