Series 24 Exam Information
Series 24 Exam Overview & FAQs
The General Securities
Principal (Series 24) Exam
Created in 1979, the Series 24 exam assesses the competency of an entry-level principal to perform their job. The Series 24 exam is administered by the Financial Industry Regulatory Authority (FINRA), and required by FINRA and SEC.
Topics include: supervision of registration, investment banking, trading, customer accounts, and general broker-dealer activities
Series 24 Exam Difficulty Level
The Series 24 is a very challenging exam, which requires a focused study plan in order to pass. In terms of the Series 24 pass rate, many testers are well prepared to pass on their first attempt, but on average it takes up to two tries. Attending a class is strongly recommended. It’s also recommended that students learn through a variety of methods, such as reading, watching videos, and — the most crucial component of the process — continuous testing with a review of answer rationales. But with Pass Perfect’s proven preparation methods, you’ll be guaranteed to pass the first time
After the Series 24
For potential managers, principles, and directors, the Series 24 exam is a great way to further your career. Depending on the path you choose, you’ll also be required to pass a co-requisite exam, such as Series 57, Series 79, Series 82 and Series 86/87, or Series 16 for specialized principal roles.
Series 24 FAQ
How long do I need to study for the Series 24 Exam?
When preparing to take the Series 24 exam, you should plan to study for 70-80 hours. Typically, candidates study over the course of 3-4 weeks. The time you need to spend preparing for the exam varies depending on your familiarity with the material. Our adaptive preparation provides extra help where needed to make sure you spend your study time wisely and take the test with confidence.
How much time do I have on the Series 24 exam?
You will have 3 Hours and 45 Minutes to complete the Series 24 exam.
How many Series 24 questions are on the exam?
The Series 24 exam consists of 150 multiple choice questions.
What is the passing score for the Series 24 exam?
The minimum passing score for the Series 24 exam is 70%.
What is the Series 24 pass rate?
The Series 24 exam has an industry pass rate of approximately 70%.
Is the Series 24 harder than the SIE?
Yes. The Series 24 is much harder due to the complexity of the material.
How do I register for the Series 24 exam?
Visit Finra.org to enroll for the Series 24 exam. The exam fee is $120, and a sponsoring firm must complete the required paperwork.
What happens if I fail the Series 24?
After the first or second time you fail the Series 24, there is a mandatory 30-day waiting period before you can take the exam again. After the third (and subsequent) fails, the waiting period increases to 6 months. The $120 exam fee applies each time you take the exam.
How many times can I take the Series 24 exam?
You may take the Series 24 exam as many times as it takes to pass. Note there is a 30 day waiting period after your first and second failed attempt, and a 6-month waiting period after the third failed attempt and beyond.
What do I bring to take the Series 24 exam?
You cannot bring in anything with you to take the Series 24 exam. No pen, pencil, calculator, cell phone, smart watch, or paper. Everything is prohibited.
Can I use a calculator on the Series 24 exam?
Yes, you are able to use a calculator on the Series 24 exam. Although this exam is not math-heavy, the testing center will provide students with a calculator, if needed.
Are there prerequisites for the Series 24?
Yes, passing the SIE and the appropriate representative license, which is typically Series 7. Co-requesites include: Series 57, Series 79, Series 82 and Series 86/87, or Series 16 for specialized principal roles.
Who can take the Series 24?
Not everyone can take the Series 24 — sponsorship from a FINRA member firm is required, meaning a candidate must first be hired by a FINRA member firm.
What can I do after passing the Series 24 exam?
After passing the Series 24 exam, you can assume a managerial role within a financial services firm.
How long is the Series 24 exam good for?
The Series 24 exam does not expire unless you leave the employ of the member firm. There is a 2-year grace period — after the 2-year employment lapse, you must retake both pre-requisite and Series 24 exams.