Series 24 Flashcards and Memory Tools
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 Series 24 Flashcards and Memory Tools
📘 Your Quick-Recall Toolkit for the FINRA General Securities Principal Exam
The Series 24 exam is comprehensive and dense—covering supervision, regulatory framework, sales practices, communications, and FINRA rules. Mastering all of it can be overwhelming, which is why using targeted flashcards and memory tricks is critical for reinforcing and retaining essential concepts.
Here’s a structured guide to the most useful flashcards and memory tools for Series 24 prep.
🧠 1. Regulatory Authority Breakdown
Q: Who regulates broker-dealers?
A: The SEC, FINRA, and state regulators (via the NASAA and the USA).
Memory Tool:
💡 “S-F-S” = SEC, FINRA, States
🧠 2. U4, U5, U6 Form Review
| Form | Purpose |
|---|---|
| U4 | Registration of associated persons |
| U5 | Termination of registration |
| U6 | Disclosure of disciplinary actions |
Memory Trick:
💡 “U4 to get in, U5 to get out, U6 if you’re in trouble.”
🧠 3. Communications Categories
| Type | Audience Size | Approval Needed |
|---|---|---|
| Correspondence | ≤ 25 retail investors | Review, not pre-approval |
| Retail Communication | > 25 retail investors | Principal pre-approval |
| Institutional Comm. | Institutional clients | Supervision only |
Mnemonic:
💡 “C-R-I” = Correspondence, Retail, Institutional
→ Small, Many, Professional
🧠 4. Holding Periods & Time Limits
| Item | Time Limit |
|---|---|
| Customer complaint file retention | 4 years |
| Order tickets & confirmations | 3 years |
| U5 filing after termination | 30 days |
| Regulatory element CE | 120 days of 2nd anniversary |
Memory Hook:
💡 “3 for docs, 4 for clients, 30 for leaving, 120 to CE”
🧠 5. Prospectus Delivery Timeline – IPO vs APO
| Offering Type | Delivery Period |
|---|---|
| IPO (non-listed) | 90 days |
| IPO (exchange-listed) | 25 days |
| APO (non-listed) | 40 days |
| APO (exchange-listed) | None required |
Mnemonic:
💡 “90-40-25-0” rule for prospectus delivery
Think: “New to old, non-listed to listed”
🧠 6. Corporate Actions – Notice Requirements
Q: When must notice be given to FINRA before a corporate action like a dividend?
A: 10 days prior to the record date
Memory Tip:
💡 “10-day heads-up to FINRA”
🧠 7. 5% Policy – Markups and Commissions
Q: What is the 5% policy?
A: It’s a guideline, not a rule—commissions and markups should be fair and reasonable, usually not exceeding 5%.
Reminder:
- Applies to OTC and exchange trades not involving a prospectus.
Memory Cue:
💡 “5 is fair—but not firm.”
🧠 8. MSRB Rules vs FINRA Rules
| MSRB Rules | Applies to |
|---|---|
| G-7: Recordkeeping | Municipal dealers |
| G-17: Fair dealing | All municipal firms |
| G-21: Advertising | Applies to muni communications |
Memory Device:
💡 “G is for Government” – All MSRB rules start with G
🧠 9. Insider Trading Key Dates
- Tipping: Sharing material nonpublic info
- Violation Penalty: Up to 3x profit/loss avoided
Memory Tip:
💡 “Tripled Trouble” for insider gains
🧠 10. Supervisory Levels and Responsibilities
| Title | Core Role |
|---|---|
| Principal (Series 24) | Supervises BDs and reps |
| OSJ Supervisor | Supervises branch operations |
| Registered Representative | Executes customer orders |
Hierarchy Cue:
💡 “P-O-R” = Principal, OSJ, Rep → Top to bottom
🧾 Bonus: Flashcard Format Sample
Front:
“How long must complaint records be kept?”
Back:
“4 years – Series 24 rule”
Front:
“What triggers U5 filing?”
Back:
“Termination of registration – must be filed within 30 days”
Want a printable flashcard deck or Anki-compatible digital version? I can format it for your preferred study method.
🎓 Prepare to pass the Series 24 confidently
Get study materials, advanced quizzes, and a printable flashcard PDF at:
👉 https://finra-exam-mastery.com
Memorize smarter. Supervise stronger. Pass your Series 24.