Series 24: Definition, Prerequisites, Exam, Difficulty

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Series 24: Definition, Prerequisites, Exam, Difficulty

Welcome to our “Finance” category, where we delve into various topics related to the world of finance. In this blog post, we are going to discuss Series 24, a crucial designation for individuals seeking to become general securities principals. We will explore what the Series 24 entails, its prerequisites, the exam, and the level of difficulty. So, if you are considering a career in finance, let’s dive right into the details!

What is Series 24?

Series 24, also known as the General Securities Principal Examination, is an important qualification for professionals in the securities industry who aspire to become general securities principals or branch managers. These individuals are responsible for overseeing the sales activities and operations within their firms.

The exam tests the candidate’s knowledge and proficiency in a wide range of topics, including investment banking, trading, customer accounts, and regulatory compliance. It covers areas such as mutual funds, options, municipal bonds, and more.

Prerequisites for Series 24

Before taking the Series 24 exam, candidates must meet certain prerequisites:

1. Be sponsored by a FINRA (Financial Industry Regulatory Authority) member firm. This means that you need to be employed or associated with a brokerage firm or financial institution.
2. Hold other relevant FINRA licenses, including the Series 7, which is a general securities representative license.
3. Have at least three years of experience in the securities industry, with one year directly involved in the management and supervision of sales activities.

It’s important to note that meeting these prerequisites demonstrates a certain level of experience and expertise in the securities industry, ensuring that individuals who obtain the Series 24 designation are well-prepared for their managerial roles.

The Series 24 Exam and Difficulty

The Series 24 exam consists of 150 multiple-choice questions, and candidates are given 3 hours and 45 minutes to complete it. The passing score is 70%, meaning you need to correctly answer at least 105 questions to pass.

The exam covers a wide range of topics, including marketing, sales, customer accounts, supervision, and more. Candidates must thoroughly understand the rules and regulations set forth by regulatory bodies like the Securities and Exchange Commission (SEC) and FINRA.

The difficulty level of the Series 24 exam is considered moderately high. This is due to the extensive knowledge base required and the complexity of the topics covered. However, with adequate preparation and study, candidates can increase their chances of success.

In conclusion

The Series 24 designation is an essential step for individuals looking to take on leadership roles and manage teams in the securities industry. It demonstrates a comprehensive understanding of securities regulations and the ability to effectively supervise sales activities. By passing the Series 24 exam, candidates open up new opportunities for career advancement and professional growth.

We hope this blog post has provided you with valuable insights into the Series 24 exam. If you have any further questions or would like to know more about finance-related topics, feel free to explore our other blog posts in the “Finance” category.