Series 7: Required Minimum Distribution (RMD)

Taken from our Series 7 - General Securities Representative Exam

Definition of the term Required Minimum Distribution (RMD)...

the minimum amount of money that must be taken out of a qualified retirement account by April 1 following the year the account holder turns 72 (increasing to 73 in 2023).

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At Phillips & Co., my job was to hire entry level applicants who could successfully pass the Series 65 and Series 7 examinations in three months and do it the FIRST TIME. After trying Kaplan/Dearborn, STC, and even the Series 7 for Dummies, 85% of our applicants were still having a hard time passing.

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David Hartzell, Cornell Capital Management, New York

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