60-Day Study Plan for the Series 24 Exam

📘 60-Day Study Plan for the Series 24 Exam

The Series 24 exam is the General Securities Principal Exam, designed for individuals who want to become managers or supervisors in the securities industry. It is a challenging exam that tests knowledge of supervisory responsibilities, trading, market-making, investment banking, and firm operations. To ensure you’re fully prepared, here’s a 60-day study plan to guide you through the necessary content, practice, and review.

🔑 General Guidelines

• Study Time: Aim for 3-4 hours per day during weekdays, and 5-6 hours on weekends. Adjust based on your schedule.
• Practice Questions: Allocate 30 minutes each day to practice questions.
• Review: In the last 7 days, focus primarily on review, practice exams, and addressing weak areas.

🗓️ Week 1-4: Foundation and Key Concepts

Day 1-7: Understanding Regulatory Framework and Supervision

• Content:
  • Study the role of regulatory bodies (FINRA, SEC, SROs) and their impact on securities transactions.
  • Understand principal’s responsibilities in a securities firm, including compliance, surveillance, and overseeing daily operations.
  • Learn about Regulation S-P, Regulation T, and Regulation SHO.
• Goal: Get comfortable with the regulatory environment and supervisory roles.
• Practice: Complete practice questions on regulatory requirements and supervisory responsibilities.

Day 8-14: Firm Operations and Compliance

• Content:
  • Dive into firm operations: structure, risk management, and internal policies.
  • Study AML (Anti-Money Laundering) regulations and the firm’s role in ensuring compliance.
  • Learn about financial recordkeeping, audit procedures, and disclosure requirements.
• Goal: Understand firm operations, compliance issues, and risk management practices.
• Practice: Do practice questions related to firm structure, compliance, and AML regulations.

Day 15-21: Trading Activities and Market-Making

• Content:
  • Focus on trading rules for equities, options, and bonds.
  • Learn the roles of market-makers, specialists, and electronic trading systems.
  • Study short sales, margin requirements, and exchange rules related to trading.
• Goal: Grasp the rules and regulations governing trading and market-making activities.
• Practice: Answer practice questions on market-making, trading rules, and margin requirements.

Day 22-28: Investment Banking and Financial Analysis

• Content:
  • Study the role of a principal in investment banking, including underwriting, public offerings, and private placements.
  • Understand financial analysis techniques such as ratio analysis, financial statements, and valuation methods.
• Goal: Learn the responsibilities of supervisors in the investment banking division and how to assess financial health.
• Practice: Practice questions on investment banking procedures, financial statements, and valuation methods.

🗓️ Week 5-6: Advanced Topics and Customer Accounts

Day 29-35: Customer Accounts and Supervision of Sales Practices

• Content:
  • Study the various types of customer accounts (individual, joint, retirement accounts).
  • Learn the principal’s responsibility in ensuring that sales practices align with suitability standards and ethics.
  • Focus on prohibited sales practices, misleading advertisements, and ethical sales guidelines.
• Goal: Master the key aspects of customer accounts and ethical sales practices.
• Practice: Do practice questions related to account types, suitability, and sales ethics.

Day 36-42: Corporate Finance and Secondary Market Activities

• Content:
  • Learn about corporate finance activities such as debt issuance, equity offerings, and mergers & acquisitions.
  • Study the principal’s role in overseeing the secondary market activities, including trading strategies and risk management.
• Goal: Understand corporate finance responsibilities and the supervision of secondary market activities.
• Practice: Practice questions on corporate finance, mergers, acquisitions, and risk management.

Day 43-49: Managing Risk and Investment Products

• Content:
  • Dive into portfolio management, including the role of a principal in supervising risk management strategies.
  • Study the characteristics and supervision of investment products like mutual funds, ETFs, bonds, and derivatives.
  • Focus on risk controls and hedging strategies used to manage firm risk.
• Goal: Master risk management strategies and product supervision responsibilities.
• Practice: Complete practice questions on portfolio management, investment products, and risk controls.

🗓️ Week 7-8: Final Review and Exam Strategy

Day 50-56: Review and Reinforce Weak Areas

• Content:
  • Review all topics from the first 6 weeks, paying special attention to areas where you struggled.
  • Revisit key areas like regulatory compliance, supervision of trading activities, and sales practices.
• Goal: Reinforce understanding and ensure you are comfortable with all major topics.
• Practice: Focus on areas you found challenging in previous practice exams.

Day 57-63: Full-Length Practice Exams

• Content:
  • Take two full-length practice exams under timed conditions to simulate the real exam.
  • Review your mistakes in depth and focus on weak areas.
• Goal: Build exam stamina and familiarize yourself with the exam format.
• Practice: Complete a full-length exam each day and review mistakes.

Day 64-70: Exam Strategy and Final Review

• Content:
  • Focus on exam-taking strategies, such as managing time, handling difficult questions, and making educated guesses.
  • Review practice exams and revisit the content that gave you the most trouble.
• Goal: Refine your exam strategy and boost your confidence.
• Practice: Do one last set of practice questions to test your readiness.

🗓️ Week 9-10: Final Exam Prep and Rest

Day 71-77: Light Review and Rest

• Content:
  • Review flashcards, key concepts, and take short quizzes.
  • Avoid cramming—focus on light review and relaxation.
• Goal: Maintain your readiness without overloading yourself.
• Practice: Quick flashcard review and light practice exams.

Day 78-84: Exam Day Prep and Relaxation

• Content:
  • Get a good night’s sleep before the exam.
  • Avoid last-minute cramming; focus on staying calm and confident.
• Goal: Be mentally prepared for the exam day.
• Practice: No practice on the final day. Focus on relaxation and exam-day readiness.

🎯 Final Tips

• Consistency is key: Stick to your daily study plan, and don’t skip sessions.
• Use a variety of resources: Combine study materials, practice exams, and flashcards for comprehensive prep.
• Stay positive: Confidence is crucial on exam day. Trust in your preparation.

By following this 60-day study plan, you’ll be well-prepared for the Series 24 exam and ready to succeed! Good luck!