Series 24 Exam Requirements and Eligibility
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 Series 24 Exam Requirements and Eligibility
📘 Everything You Need to Know to Qualify for the General Securities Principal Exam
The Series 24 exam, officially known as the General Securities Principal Qualification Examination, qualifies individuals to supervise or manage branch activities involving trading, market making, advertising, compliance, and other areas of general securities business. If you’re aiming for a leadership role at a broker-dealer, here’s what you need to know about eligibility and registration.
🎯 1. What Is the Series 24 Exam?
The Series 24 is administered by FINRA and is designed to assess a candidate’s knowledge and ability to:
- Supervise general securities business operations
- Review and approve advertising and sales literature
- Oversee trading and market making
- Enforce compliance and firm procedures
- Supervise registered representatives and associated persons
📋 2. Who Needs the Series 24 License?
You are required to pass the Series 24 exam if you want to supervise:
- Sales activities
- Underwriting
- Trading desks
- Investment banking
- Operations and customer accounts
- Advertising and communications
This license is typically required for:
- Branch managers
- Compliance officers
- Trading desk supervisors
- Sales managers at broker-dealers
✅ 3. Series 24 Eligibility Requirements
To take the Series 24, you must meet the following:
🔹 Sponsorship:
- You must be sponsored by a FINRA-member firm.
- Individuals cannot register for the exam independently.
🔹 Prerequisite Exams:
- You must pass the SIE exam, and at least one of the following representative-level exams:
- Series 7 (General Securities Representative)
- Series 57 (Securities Trader)
- Series 79 (Investment Banking Representative)
- Series 22 (Direct Participation Programs)
- Series 52 (Municipal Securities Representative)
You cannot become a principal without already being registered in a representative capacity.
🧠 4. Exam Format
| Feature | Details |
|---|---|
| Total Questions | 150 (multiple choice) |
| Time Limit | 3 hours and 45 minutes |
| Passing Score | 70% (105/150) |
| Exam Fee | $120 (as of 2025) |
| Format | Computer-based, at a testing center or online proctoring (if available) |
📚 5. Core Topics Covered
The Series 24 exam covers 5 major areas:
- Supervision of Registration of BD Personnel – Form U4/U5, fingerprinting, disciplinary actions
- Supervision of General BD Activities – Customer accounts, compliance procedures
- Supervision of Trading and Market Making – Order handling, trade reporting, regulatory reporting
- Supervision of Investment Banking – Underwriting, new issues, M&A activity
- Supervision of BD Operations, Sales, and Communications – AML, privacy rules, advertising approvals
🚫 6. What the Series 24 Does Not Cover
The Series 24 does not qualify you to:
- Supervise options activities (requires Series 4)
- Supervise municipal securities (requires Series 53)
- Supervise financial and operations (requires Series 27 or 28)
🗓️ 7. Registration and Scheduling
Once your sponsoring firm completes your Form U4 and it’s approved:
- You’ll receive a 120-day window to schedule and take the exam through Prometric or Pearson VUE.
- If you fail, you must wait 30 days to retake. After 3 attempts, the wait period increases to 180 days.
🎓 Ready to prepare for your Series 24 exam?
Get structured study plans, full simulations, and rule-focused prep at
👉 https://finra-exam-mastery.com
Lead with confidence. Pass with precision. Become a licensed principal.