Ok, you don't need to have a set screw made by any one else, there is a library of standard parts in inventor 7.
Hers what you do (sorry for making this so long)
1) Open a "standard assembly"
2) go down to the "brows bar" the menu on the left (default) which has "assembly and origin" in it.
3) Then move your mouse up to the button "model" click on it and drag your mouse down to "library"
4) the “brows bar should have changed, to be “catalogs, standard parts, and steel shapes”
5) from there click on “standard parts”
6) Then “ANIS” (this is the one I use) all the other places to click on are just other standards of measuring
7) from her I like to see what I am looking at so, above the “standard parts” there are a series of buttons, move over the one which looks like lines of text and click on it, there should be two options, “list view” and “icon view”, you I like the second one. Click on it.
8) from here you can chose almost any screw, nut or bolt and you can chose the size that you need.
if you have any questions send me a message.