How to Create a Study Calendar for Series 24

📘 How to Create a Study Calendar for Series 24

The Series 24 exam, also known as the General Securities Principal Exam, is a key certification for professionals who want to supervise and manage other securities professionals. Proper preparation for this exam requires creating a structured study calendar that breaks down the material into manageable chunks and ensures you cover everything before the test date.

Here’s a step-by-step guide on how to create an effective Series 24 study calendar:

🔑 1. Set a Target Exam Date

Before you begin planning, choose your target exam date. This will help you determine the total amount of study time available and give you a concrete goal to work toward. The Series 24 exam is typically a 6-hour exam, so it’s crucial to ensure you’re fully prepared.

🗓️ 2. Create a 60-Day Study Plan (or More/Less Based on Your Availability)

• If you have 60 days to study, you can break your preparation into several phases:
  1. Phase 1: Content Review (Days 1-40)
  2. Phase 2: Practice and Application (Days 41-50)
  3. Phase 3: Final Review and Mock Exams (Days 51-60)

Adjust this plan if you have more or less time, but having a clear start and end is essential.

📝 3. Breakdown the Study Material by Topics

The Series 24 exam tests your knowledge across several major topics. Here’s how to break it down:

1. Regulatory Framework (15%)
   • Understanding the role of regulatory bodies (e.g., FINRA, SEC, and SROs)
   • Knowledge of industry rules and regulations
   • Understanding Rule 144A and blue sky laws
2. Management of Firm Operations (25%)
   • Supervisory responsibilities of principals
   • Managing risk and compliance programs
   • Personnel management and training
3. Supervision of Trading Activities (25%)
   • Trading processes and activities of employees
   • Supervision of market-making and proprietary trading
   • Investment banking activities and compliance
4. Supervision of Customer Accounts (20%)
   • Suitability standards for customers
   • Client transactions, including margin accounts, retirement accounts, and options
   • Anti-money laundering regulations
5. Understanding of Financial Statements (15%)
   • Reviewing and interpreting financial reports
   • Understanding accounting principles
   • Ratio analysis and financial statement analysis

🧠 4. Allocate Time for Each Topic

Now that you have a breakdown of topics, it’s time to allocate study time to each one. Prioritize areas that you find more difficult and allocate more time to those topics.

Example Study Allocation:

• Regulatory Framework (15%): 5-7 days
• Firm Operations (25%): 8-10 days
• Supervision of Trading (25%): 8-10 days
• Customer Accounts (20%): 6-7 days
• Financial Statements (15%): 5-7 days

The more time you spend on the tougher areas, the more confident you’ll be.

🧩 5. Schedule Breaks and Flex Days

Building in breaks and flex days is crucial for maintaining a sustainable study pace and avoiding burnout.

• Breaks: Schedule a 15-minute break every hour or two of studying to help keep your mind fresh. Consider using the Pomodoro technique (study for 25 minutes, take a 5-minute break).
• Flex Days: Build in 1 or 2 flex days every week where you can catch up if you miss a day or need more time on certain topics.

🗓️ 6. Create a Weekly Study Schedule

Here’s an example of a weekly study schedule within your 60-day plan:

Week 1-4: Focus on Content Review

• Monday:
  • Study Regulatory Framework (e.g., roles of FINRA, SEC, and SROs)
  • Review notes and definitions
• Tuesday:
  • Study Firm Operations (supervisory responsibilities and compliance)
  • Practice multiple-choice questions
• Wednesday:
  • Study Supervision of Trading (market-making activities, proprietary trading)
  • Review flashcards for quick recall
• Thursday:
  • Study Customer Accounts (suitability standards, margin accounts)
  • Watch instructional videos or attend live sessions if available
• Friday:
  • Study Financial Statements (accounting principles, ratio analysis)
  • Do practice problems related to financial statements
• Saturday:
  • Review Day: Go over difficult concepts, practice more questions
• Sunday:
  • Rest Day or Flex Day

Week 5-6: Focus on Practice and Application

• Monday-Thursday: Continue with the topic-specific review, but shift focus to practice exams, focusing on weak areas.
• Friday: Take a full-length practice test under timed conditions.
• Saturday: Review the practice test results and identify weak areas.
• Sunday: Rest or revise any difficult topics.

Week 7: Final Review and Mock Exams

• Monday-Wednesday: Do final topic reviews for any remaining weak areas.
• Thursday: Take another full-length practice exam.
• Friday-Saturday: Go over the practice test results and focus on last-minute adjustments.
• Sunday: Rest and relax before the exam.

🧑‍🏫 7. Use Active Study Techniques

• Flashcards: Create flashcards for key terms, definitions, and regulatory bodies.
• Practice Questions: Do practice questions every day to assess your understanding and track progress.
• Study Groups: Join a study group to discuss difficult topics and reinforce your learning through teaching others.

🎯 8. Stay on Track and Stay Positive

As you approach the exam date, keep track of your progress and make adjustments if necessary. Consistency is key, and don’t be discouraged if you hit a tough topic. Keep pushing forward, review frequently, and stay positive.

📚 Final Thoughts

• Create a realistic and balanced study calendar that focuses on key areas of the Series 24 exam.
• Practice often to reinforce the material and check your understanding regularly with mock exams.
• Use effective study techniques, such as flashcards, practice questions, and spaced repetition, to retain information.

By following this structured approach, you’ll be well-prepared to tackle the Series 24 exam with confidence!