General Securities Principal Exam
The General Securities Principal Exam, commonly referred to as the Series 24 Exam, is administered by the Financial Industry Regulatory Authority (FINRA) which qualifies a registered individual to supervise or manage branch activities such as corporate securities, REITs, variable contracts, and venture capital. The exam covers topics such as supervision of investment banking, trading, customer accounts, and the primary/secondary markets.
A Series 24 License does not qualify an individual to function as a:
- Registered Options Principal
- General Securities Sales Supervisor for Options and Municipal Securities
- Municipal Securities Principal
- Municipal Fund Securities Principal
- Financial and Operations Principal
- Introducing Broker/Dealer Financial and Operations Principal
The Series 24 Exam is made up of 150 questions. Candidates will have up to 3 1/2 hours to take the exam. 70% (105 correct answers) is considered a passing grade.
| Test Breakdown | # of Questions | % of Exam |
|---|---|---|
| Supervision of Investment Banking Activities | 23 | 15.3% |
| Supervision of Trading and Market Making Activities | 39 | 26% |
| Supervision of Brokerage Office Operations | 34 | 22.7% |
| Sales Supervision; General Supervision of Employees; Regulatory Framework of FINRA | 38 | 25.3% |
| Compliance with Financial Responsibility Rules | 16 | 10.7% |
See also
External Links
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