Student Spotlight - LSB Sophomore Passes Competitive Financial Securities Qualification
Conner Whitton '21
Sophomore, Finance Major & Real Estate Minor
San Diego, California
Real Estate Association Executive Board Member and Finance Office Manager for Associated Student Government (ASG).
This summer, Conner Whitton ‘21 not only took the FINRA Series 7 Exam, but became one of the youngest in the country to pass! According to FINRA, “a candidate who passes the Series 7 exam is qualified for the solicitation, purchase and/or sale of securities products” on behalf of clients. It is a six-hour test that consists of 250 multiple-choice questions, and the exam boasts a pass rate of only 65%. The topics focus on investment risk, taxation, equity and debt instruments, packaged securities, options, direct participation programs, government securities, retirement plans and interactions with clients.We sat down with Conner to hear more about his background and future aspirations.
Why did you decide to study and take the test so early in your career?
While interning at Ameriprise last year, I was offered the opportunity to take the test and I thought it would be beneficial to become familiar with the terminology and concepts early. The Series 7 is required for a significant amount of finance jobs revolving around financial advising and asset management. These are two fields I am extremely interested in and I knew I would have to take the exam one day anyway.
How long did it take to study for the test?
I studied around 3 hours a day, 5 days a week, the entire summer. In total it was probably in excess of 160 hours. I haven’t taken any finance classes at SCU yet, so the material was pretty much all new to me. As time passed, the studying became more and more routine, and by the end of the summer it was pretty rewarding to see the progress I’d made.
What are your plans now that you passed?
In the near future, my next goal is to pass the Series 66 and to get some more real world experience. The Series 66, is also known as the Uniform Combined State Law Examination, which covers topics relevant to providing investment advice and effecting securities transactions for clients. I expect this test to be a bit more difficult because all of the material is jammed into 100 questions. Later on in my career, I would like to pursue investment banking, private equity, or asset management.
Any recommendations for other students interested in taking the exam?
As of October 1st, the test has changed to be more accessible to students. Previously requiring association to a firm to take the test, the new version has two parts, one of which doesn’t require association - the Securities Industry Essentials (SIE) Exam. This SIE Exam is the “part one” and is a 75 question test that I recommend anybody interested in the industry begins studying for. I recommend reading the Kaplan textbook and completing numerous practice tests. Upon completion, the revised Series 7 exam itself is now the “part two” and contains 125 questions.
What are you looking forward to learning here at SCU?
I’m looking forward to learning different asset allocation strategies from our professors. There are a million different ways and places to protect and grow capital, and the strategy behind these decisions really interests me. I am also looking forward to taking real estate classes. After attending the Real Estate Association’s events last year, I was pleasantly surprised by the amount of financial knowledge required within real estate and by the successful professionals the Association hosted.
Why did you choose to go to SCU?
I visited SCU’s Preview Day and to be honest was drawn to the energy and positivity of the campus ambassadors. I loved the campus and it genuinely looked like people enjoyed studying here. It also doesn’t hurt to be here in the Silicon Valley, something I hope to explore more of this year. I’m glad I made the right choice; Santa Clara is amazing!
Any thoughts on professors and courses you have had so far at the business school?
I would like to thank Professor Bunger, Professor Bhargava, and Professor Kotsiri for encouraging me and teaching me valuable critical thinking, note taking, and studying skills. Each of them have given their time and effort to help me grow as a student and as a person.