Series 24 Practice Test
The Series 24 exam is a qualification exam for those who want to work as a principal at a broker-dealer. It is a 150-question exam that takes 3.5 hours to complete. A score of 105 correct answers is considered passing.
Once you’ve completed your application/enrollment for the Series 24, FINRA will provide you with a 120-day window to schedule your exam. The exam is divided into five areas representing the main job functions of a General Securities Principal.
Series 24 Exam Prep
The FINRA Series 24 exam, known as the General Securities Principal Qualification Examination, is designed to evaluate candidates’ readiness to manage general securities business at a broker-dealer. It requires in-depth knowledge of real estate investment trusts (REITs), corporate securities, investment banking, and trading. Those who pass the exam earn the title of general securities principal.
The Series 24 exam consists of 150 multiple-choice questions and 10 unscored experimental questions. The test is computerized and requires three hours to complete. A score of 70% or higher is needed to pass. The exam is divided into five sections that represent the major job functions of a general securities principal.
Investing in study materials and taking practice tests are essential to passing the Series 24 exam. There are several options available for studying, including self-study courses and live classes. One of the best is Securities CE, which offers a comprehensive Series 24 exam prep package. This product includes video and text-based content, and its GreenLight Guarantee ensures that students will be successful on the exam.
Series 24 Exam Pass Rate
The Series 24 exam is designed by FINRA to assess the readiness of individuals for general supervisory duties. This includes market making, trading, and underwriting. In order to take the exam, candidates must be sponsored by a FINRA member firm and have passed the Securities Industry Essentials (SIE) exam and a representative-level qualification exam such as the Series 7.
The test has 150 questions with 10 pretest questions. It takes three hours and 45 minutes to complete, and a score of at least 70% is needed. Those who pass the exam can work as a general securities principal.
Despite its difficulty, the Series 24 exam can be successfully taken with diligent study and adequate preparation. It is important to use practice exams, which are similar in difficulty and format to the real exam. It is also important to use the time allotted for each question. Statistically, changing an answer often leads to the wrong answer, so be sure to stick with your first choice! Using these tips can help you improve your chances of passing the Series 24 exam.
FINRA Series 24 Exam Outline
The Series 24 exam is administered by the Financial Industry Regulatory Authority (FINRA) and assesses a candidate’s knowledge of critical management functions within a broker dealer environment. It is a 150-question multiple-choice test that requires three hours and 45 minutes to complete. It also includes 10 pretest questions that don’t count toward your score.
The first section of the Series 24 exam covers supervisory responsibilities over securities trading and market making activities. It also discusses brokerage office operations, including customer accounts, documentation, and custodial accounts. The second part of the exam covers supervision of broker-dealer and personnel management activities. This includes differences between Registered Investment Advisers and broker-dealers, registration requirements and exemptions, hiring requirements for specified positions, and disciplinary action.
FINRA’s Series 24 exam is challenging, but with proper study and practice you can pass it. Be sure to use study guides and practice questions that cover all the topics on the exam. Using flashcards is another great way to prepare for the Series 24 exam. These study tools include in-depth answer explanations for each question to help you understand why you missed certain questions.
How Hard Is the Series 24 Exam
The Series 24 exam is a licensing examination for financial professionals seeking to manage and supervise a FINRA member firm’s general securities business. Known as the General Securities Principal Qualification Examination, this test is administered by FINRA and assesses candidates’ ability to perform supervisory duties in areas such as trading, market making, and advertising.
The FINRA Series 24 exam contains 150 questions and requires up to three hours and 45 minutes to complete. The passing score is 70% (105 correct answers). Candidates must be sponsored by a FINRA member firm or another self-regulatory organization to take the exam.
The Series 24 is a difficult exam because it requires a deep understanding of the rules and statutory provisions that govern managing and supervising a broker-dealer’s general securities business. It also requires knowledge of a broad range of topics, including real estate investment trusts, investment banking, corporate securities, and brokerage operations. Having the right study materials and strategy can tip the scales in your favor, so you can pass the Series 24 exam on your first try.
How Long Is the Series 24 Exam
The Series 24 exam consists of 150 questions that candidates must answer within three hours. A score of 70% or higher is considered a passing grade. FINRA divides the questions into five areas that represent the main job functions of a general securities principal: supervision of registration of broker-dealer and personnel management activities; supervision of market making activities; supervision of investment banking and research activities; supervisory responsibilities of physical offices and branch activities; and the development, implementation, and updating of firm policies, written supervisory procedures, and controls.
Practice questions can be found on FINRA’s website and are formatted in three main ways: open-stem, closed-stem, and multiple-choice. Candidates should take the time to read each question carefully and understand what it is asking. They should also use practice exams to become familiar with the format and timing of the exam.
Getting a good score on the Series 24 test requires a lot of preparation. SmartAsset’s free tool matches you with vetted financial advisors who serve your area and can help you reach your goals. Start your search now!
Series 24 Exam Study Materials
The Series 24 is a FINRA requirement for individuals seeking to become General Securities Principals. This license allows the holder to supervise various types of financial services, including market making, trading, underwriting, and advertising. A person who passes the Series 24 exam can work for any FINRA member firm that offers these services. There are several ways to prepare for the exam, including studying sample test questions using study guides or attending a formal testing center.
The best way to pass the Series 24 exam is to use a comprehensive self-study course that includes both a textbook and practice questions. For most candidates, this combination proves to be sufficient to successfully complete the exam. It is recommended that the candidate spend 60 to 70 hours preparing for the exam by reading the textbook, underlining key points, watching the video class and taking as many practice questions as possible.
Another tip to remember when preparing for the Series 24 exam is to never change your answers. Statistically, changing an answer to the correct one will result in a lower score.
General Securities Principal Jobs
If you want to be a general securities principal, you’ll need to pass the Series 24 exam. This FINRA exam measures the competence of entry-level principal candidates to carry out the critical job functions associated with the position. These include advertising, market making, trading, and underwriting. The Series 24 is a difficult exam, and you’ll need to do a lot of preparation to prepare for it.
The exam consists of 150 scored questions and 10 unscored experimental questions. Candidates are allowed three hours and 45 minutes to complete the exam, and they must score at least a 70% to pass. The exam is divided into five sections that represent the major job functions of a general securities principal.
While the Series 24 is a tough exam, it’s also an excellent opportunity to gain experience and improve your skills. With Solomon’s FINRA Series 24 Exam Prep, you can get the tools you need to succeed in your career as a general securities principal. Try a free sample exam and see how you can increase your chances of passing the Series 24.
General Securities Principal Salary
The Series 24 exam is a requirement for anyone who wants to become a general securities principal. The exam focuses on the supervisory duties of principals, such as supervision of investment banking and securities business, underwriting, trading and market making. The exam lasts three hours and consists of 150 multiple-choice questions, including 10 unscored “pretest” questions.
The exam is administered by the Financial Industry Regulatory Authority (FINRA). It is one of 33 exams that are required to work in certain positions within a broker dealer. The other exams include Series 7, Series 63, and Series 66.
The Series 24 is a tough exam, but it can pay off if you pass it. According to Payscale, a general securities principal makes an average of $82,000 a year. Moreover, the job outlook is strong. However, it’s important to prepare thoroughly for the test. The best way to prepare is to study the exam content and practice with simulated exams. You can also get a free FINRA best practices guide to help you prepare.