Series 24 Exam:  General Securities Principal

The Series 24 exam  is for  professionals who plan to be managers or principals.  A Series 7 license is required prior to sitting for the Series 24 exam.

Topics:

  • FINRA Rules & Supervision of Employees
  • Federal & State Regulations
  • Financial Responsibility
  • Underwriting
  • Over‐the‐Counter Market
  • Customer Accounts
  • Investment Companies
  • Market Making Requirements
  • Market Making Activities
  • Computer Execution Systems

How the Series 24 Exam is Structured

Each Series 24 Exam has a total of 150 questions, for which the applicant will be given three and a half hours (210 minutes) to complete.  You must achieve a 70% to pass your exam.  An additional 5 questions will be incorporated into your exam, but will not be scored.  Remember that these questions are experimental, untimed, and can appear in any position within the exam but do not count towards the final grade.  In order for a candidate to pass the Series 24 Exam, s/he must correctly answer at least 105 (70%) of the 150 questions.

Questions on the Series 24 Exam

  • Supervision of Investment Banking, Underwriting Activities and Research    23
  • Supervision of Trading and Market Making Activities                                          39
  • Supervision of Brokerage Office Operations                                                            34
  • Sales Supervision, and General Supervision of Employees                                  38
  • Compliance with Financial Responsibility Rules                                                    16

How to Schedule Your Exam

To take the Series 24 exam, your firm must first file your Form U-4 and open a window with FINRA. Once that window is open, you may schedule your exam by contacting either of the testing centers authorized to administer the Series 24 on behalf of FINRA:

• PearsonVUE — www.pearsonvue.com, or 866-396-6273, or
• Prometric — www.prometric.com, or 800-578-6273

What to Expect at the Testing Center

You should arrive at the testing center 30 minutes in advance of your appointment, and bring a government-issued photo ID, such as a driver's license, military ID, or passport. You will be fingerprinted when checking in.

You will be provided with a locker to store your personal items. You may not take anything into the testing room. The testing center will provide you with earplugs, a calculator, and pencils and scratch paper or markers and dry-erase sheets.