Series 24 Exam: Who Needs It and Why?

🧾 Series 24 Exam: Who Needs It and Why?
📘 A Complete Guide to the General Securities Principal Qualification Exam

The Series 24 exam, also known as the General Securities Principal Qualification Exam, is essential for professionals who want to supervise or manage activities in the securities industry. If you’re aiming for a leadership role at a broker-dealer, this is a credential you need to understand. Below is a complete breakdown of who needs the Series 24, what it covers, and how it fits into your career path.

🎯 1. Who Needs the Series 24 License?

The Series 24 license is required for individuals who supervise general securities business at a FINRA-member broker-dealer. Specifically, it is designed for those who want to function as:

• Branch Office Managers (BOMs)
• Compliance Officers
• Operations Managers
• Supervisors of Sales Activities
• Traders and Market-Making Supervisors

It allows individuals to oversee registered representatives in sales, trading, underwriting, advertising, and general brokerage operations—excluding specific products like options or municipal securities (which require Series 9/10 and 53 respectively).

🧠 2. Prerequisite Exam: You Must Have the SIE + a Representative License

Before taking the Series 24, candidates must have passed:

• The SIE (Securities Industry Essentials) exam
  AND one of the following:
• Series 7 (General Securities Representative)
• Series 57 (Securities Trader)
• Series 79 (Investment Banking)
• Series 22 (DPP Representative)

📚 3. What Does the Series 24 Exam Cover?

The exam tests your ability to supervise firm activities across multiple functions. Here’s a simplified breakdown:

You’ll need a deep understanding of:

• FINRA and SEC rules
• Disciplinary actions and reporting
• Trade reporting systems (e.g., TRACE, ACT)
• Margin and customer account supervision
• Communications with the public
• Underwriting rules and corporate financing

📏 4. Exam Format and Requirements

• Number of Questions: 150 multiple-choice questions
• Time Allotted: 3 hours and 45 minutes
• Passing Score: 70%
• Cost: $150
• Delivery: Administered by Prometric test centers or remote proctoring

🚫 5. What the Series 24 Does Not Cover

While the Series 24 covers broad supervisory functions, it does NOT qualify you to supervise:

• Options – requires Series 9/10
• Municipal Securities – requires Series 53
• Financial Operations Principals – requires Series 27 or 28
• Investment Company/Variable Contracts – for deeper focus, Series 26 is applicable

📈 6. Why Get the Series 24? – Career Advancement

Earning your Series 24 opens the door to:

• Managerial and compliance roles in broker-dealers
• Higher compensation tiers due to leadership responsibilities
• Career stability and advancement within FINRA-regulated firms
• Greater ability to oversee teams, handle audits, and ensure firm-wide compliance

🚀 7. Conclusion: Should You Take the Series 24?

Take the Series 24 if:

• You’re moving into supervisory roles within a broker-dealer
• You want to oversee registered reps or trading desks
• You’re a compliance professional or operations leader looking to expand your influence

Don’t take the Series 24 if:

• You only work in retail sales or need product-specific licenses like Series 9/10 or 26

🎓 Ready to prepare for the Series 24 exam?
Get full-length simulations, test strategy, and flashcards at
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Step into your leadership role with the right license. Pass Series 24 with confidence.