Also known as the General Securities Principal exam (GSP exam), the Series 24 exam is administered by the Financial Industry Regulatory Authority (FINRA). This is a requirement for registered professionals to be able to manage or supervise branch activities including variable contracts, venture capital, and corporate securities. These are the people involved in training, investment banking, solicitation, and other general demeanor in handling business operations.
Before you take the Series 24 exam, you must first pass the following tests:
* Series 7
* Series 17
* Series 37
* Series 38
* Series 62
* Series 82
You have to pay $95 to be able to take the General Securities Principal exam. This is composed of 150 multiple-choice questions that must be answered in 3 hours and 30 minutes. You have to get at least 70% of the questions right in order to pass.
The topics that are covered in the Series 24 exam are the following:
* Supervision of Trading and Money Making Activities (26%)
* Supervision of Brokerage Office Operations (23%)
* Sales Supervision, General Supervision of Employees, Regulatory Framework of the National Association of Securities Dealers (26%)
* Compliance with Financial Responsibility Rules (11%)
* Supervision of Investment Banking Activities (15%)
**TIP** To help you prepare for the test, here are some of the really popular areas that you must review:
* Keogh Plan
* NASDAQ
* Over the Counter Bulletin Board (OTCBB)
* Direct Participation Program (DPP)
* Stop Order
* Regulation D
* Third Market
* Nine Bond Rule
Series 24 Study Guide (GSP Study Guide:-
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