General Securities Principal Exam


The general securities principal exam, commonly referred to as the Series 24 exam, is administered by the U.S. Financial Industry Regulatory Authority which qualifies a registered individual to supervise or manage branch activities such as corporate securities, REITs, variable contracts, and venture capital; a general principal may also approve advertising and sales literature, including communications regarding municipal securities. The exam covers topics such as supervision of investment banking, trading, customer accounts, and the primary/secondary markets.
A Series 24 license does not qualify an individual to function as a:
The Series 24 Exam is made up of 150 questions. Candidates have up to 3.5 hours to take the exam. 70% is considered a passing grade. In order to take the Series 24 exam, a candidate must be sponsored by a member firm of FINRA or another SRO.
Test breakdownNumber of questions% of exam
Supervision of investment banking activities3322%
Supervision of trading and market making activities3121%
Supervision of brokerage office operations2919%
Sales supervision; general supervision of employees; regulatory framework of FINRA4329%
Compliance with financial responsibility rules149%