Series 24 vs Series 7: What’s the Difference?
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🏛️ Series 24 vs Series 7: What’s the Difference?
If you’re working in the financial services industry, you’ve likely heard of both the Series 7 and Series 24 exams. While both are FINRA licenses, they serve very different purposes. Understanding the distinction is crucial whether you’re launching a career as a registered representative or moving into a supervisory role.
📘 Series 7 – General Securities Representative
Purpose:
Qualifies individuals to sell a wide range of securities to the public.
Ideal For:
- Financial advisors
- Stockbrokers
- Registered reps at broker-dealers
What It Covers:
✅ Equities and debt securities
✅ Mutual funds and ETFs
✅ Options and municipal securities
✅ Variable annuities and packaged products
✅ Suitability, customer accounts, trade execution
Exam Details:
- 125 scored questions (+10 unscored)
- 225 minutes
- Minimum passing score: 72%
- Often combined with Series 66 or Series 63 for state registration
🧑💼 Series 24 – General Securities Principal
Purpose:
Qualifies individuals to supervise registered representatives and oversee operations at a FINRA-member firm.
Ideal For:
- Branch managers
- Compliance officers
- Supervisory principals
What It Covers:
✅ Supervision of trading, underwriting, and customer accounts
✅ Regulatory reporting and compliance
✅ Hiring and training of reps
✅ Firm operations and recordkeeping
✅ Sales practices and ethical conduct
Exam Details:
- 150 scored questions
- 225 minutes
- Minimum passing score: 70%
- Prerequisite: Must already be Series 7 licensed (or hold other qualifying registrations)
⚖️ Key Differences at a Glance
| Feature | Series 7 | Series 24 |
|---|---|---|
| Role | Sales representative | Supervisor / principal |
| Prerequisite Required | None | Yes (Series 7 or equivalent) |
| Scope | Sell securities | Supervise reps and operations |
| Customer Interaction | Direct (client-facing) | Indirect (oversight and compliance) |
| Career Level | Entry to mid-level | Mid to senior-level |
🧠 Which One Do You Need?
✅ Choose Series 7 if:
- You’re beginning your career in securities sales
- You want to advise retail clients and execute trades
- You need a foundational license to register with a broker-dealer
✅ Choose Series 24 if:
- You’re advancing into a leadership or compliance role
- You want to supervise other reps or manage a branch office
- You already hold a Series 7 and are expanding your qualifications
🚀 Advance Your Licensing Path
Whether you’re preparing to become a securities rep or ready to move into management, we’ve got the tools to help. Access study guides, practice exams, and video lessons tailored to both Series 7 and Series 24 at:
👉 finra-exam-mastery.com