Should You Take Series 24 Before or After Series 7?

🧾 Should You Take Series 24 Before or After Series 7?
📘 Understanding the Relationship Between the Series 24 and Series 7 Exams

When it comes to advancing in the securities industry, the Series 7 and Series 24 exams are key milestones. But the question arises: should you take the Series 24 before or after the Series 7 exam? To help you decide, here’s an explanation of what each exam covers, their relationship, and the best order in which to take them.

🎯 What Is the Series 7 Exam?

The Series 7 exam is the General Securities Representative qualification exam. It allows individuals to work as registered representatives, meaning you can sell a wide variety of securities products, including:

• Stocks
• Bonds
• Options
• Mutual funds
• Municipal securities
• ETFs

Who Should Take It:

The Series 7 is typically taken by individuals who want to work as securities brokers, selling a broad range of securities products. It’s often the first exam required for a career in securities sales.

Key Points:

• The Series 7 exam is comprehensive, covering topics like securities products, market regulations, customer suitability, and ethical standards.
• You must pass the SIE exam first to be eligible for the Series 7 exam, and you also need sponsorship from a FINRA-member firm.

🎯 What Is the Series 24 Exam?

The Series 24 exam is the General Securities Principal exam, which qualifies individuals to supervise and manage the activities of other registered representatives and brokers. Passing the Series 24 allows you to oversee the activities of firms or individuals working in securities sales, ensuring compliance with regulations and managing day-to-day trading operations.

Who Should Take It:

The Series 24 exam is required for professionals who wish to become supervisors or managers of securities representatives. It is typically taken after gaining experience with the Series 7 license, as it is more advanced.

Key Points:

• The Series 24 exam focuses on supervisory functions, including compliance regulations, ethics, and management practices within a securities firm.
• It does not require direct sponsorship from a firm, but it requires passing the Series 7 first, as it builds on the knowledge gained from the Series 7.

🎯 Should You Take Series 24 Before or After Series 7?

Take Series 7 First, Then Series 24

Why This Order Makes Sense:

1. Foundational Knowledge:
   The Series 7 exam provides the foundation of knowledge about the securities industry. It covers essential concepts related to securities products, market dynamics, and customer suitability—all critical information that will help you manage and supervise other brokers in the future.
2. Series 24 Builds on Series 7:
   The Series 24 exam is designed for supervisors and managers, so it requires you to have a comprehensive understanding of the securities products and regulations tested in the Series 7. You’ll need the practical experience and knowledge from the Series 7 to understand how to supervise and ensure compliance effectively.
3. Real-World Experience:
   Many of the topics covered in the Series 24 exam, such as firm supervision, compliance regulations, and ethical guidelines, are best understood after you’ve worked with securities products and gained some real-world experience from a role that requires Series 7 licensure.
4. Required for Series 24:
   To take the Series 24 exam, you must first pass the Series 7 exam. This is a requirement set by FINRA to ensure that individuals have the necessary foundation before advancing to a managerial role.

🎯 What Happens If You Take Series 24 Before Series 7?

• Not Eligible: If you take the Series 24 exam before passing the Series 7 exam, you won’t be eligible to sit for the Series 24, because the Series 7 is a prerequisite for the Series 24. Without Series 7, you won’t be able to proceed with the Series 24 exam, and it will delay your licensing process.
• Skipping Series 7 Would Miss Important Knowledge: The Series 24 exam assumes you have knowledge of basic securities products and the regulatory environment, which is tested in the Series 7. If you try to bypass this step, you might struggle with the supervisory content of the Series 24 exam, as you won’t have the core knowledge required to manage other representatives effectively.

🎯 Conclusion: Series 7 Comes First, Then Series 24

The Series 7 exam is the foundation of your securities career and is required for most roles in the industry, including selling and trading securities. Once you’ve gained experience and passed the Series 7, you can move on to the Series 24 to supervise and manage securities representatives.

Summary:

• Take Series 7 first, as it provides the foundational knowledge required for a career in securities and is required for the Series 24 exam.
• Take Series 24 afterward if you want to advance into a managerial or supervisory role.

🎓 Ready to get started with Series 7 or Series 24?
Access expert-led study materials, practice exams, and preparation resources at
👉 https://finra-exam-mastery.com

Take the next step in your securities career by passing the Series 7 and Series 24 exams!