Series 24 Exam Study Guide

Who is the Series 24 Exam For?

Also known as the General Securities Principal exam (GP exam), the Series 24 exam is administered by the Financial Industry Regulatory Authority (FINRA) and has been since it’s inception in 1979.

The Series 24 is a required qualification that allows registered professionals to be able to manage or supervise a FINRA members branch activities including variable contracts, real estate investment trusts, venture capital, and corporate securities.

It also qualifies general principles to be able to review and approve advertising and sales brochures for publication and release, including detailed communication about municipal securities.

Series 24 Quick Facts

Exam NameSeries 24
Sponsorship Required?Yes - by a FINRA member firm or suitable Self regulatory member firm
Exam TypeMultiple Question
Number of Questions150 plus 10 pretest questions
Exam Duration225 minutes
Pass Mark70% (105 correct answers)
Cost$120.00
Pre-Requisite Exam?Yes - any from Series 7, Series 17, Series 37, Series 38, Series 62, Series 79 or Series 82
Administered byFINRA Series 24 Exam

Series 24 Exam Pre-Requisites

Before you take the Series 24 exam, you must first one of the pass the following Series Exams:
* Series 7
* Series 17
* Series 37
* Series 38
* Series 62
* Series 79
* Series 82

You have to pay $120 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 45 minutes. You have to get at least 70% of the questions right in order to pass.

Breakdown of the Series 24 Exam Questions

The Series 24 exam recognises 5 main job functions of the general securities principal and breaks the allocation of questions in the exam down as follows :

* Supervision of Investment Banking, Underwriting Activities and Research – 33 questions
* Supervision of Trading and Money Making Activities – 31 questions
* Supervision of Brokerage Office Operations – 29 questions
* Sales Supervision, General Supervision of Employees – 43 questions
* Compliance with Financial Responsibility Rules – 14 questions

Series 24 Exam Pass rate

Whilst no figures have ever been released as to the average pass rate for the series 24 exam, there is this thread on the Wealth Management site that covers this very topic.

Series 24 (GP) Recommended Study Guides:-

Kaplan Test Prep and Admissions (Kaptest.com)

Series 24 Study Guide

Series 24 Flashcards


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