Series 24: Restrictions Against Borrowing And Lending With Customers

Taken from our Series 24 Online Guide

Restrictions Against Borrowing and Lending with Customers

Associated persons are prohibited from borrowing money from customers or lending money to customers, unless (1) the member firm has written procedures that specifically allow it or (2) any of these other conditions apply:

• Customer is an immediate family member of the associated person—firm’s procedures may indicate prior approval is not necessary
• Customer is a person or institution that lends money in its regular course of business and is acting in that capacity—firm’s procedures may indicate prior approval is not necessary
• Customer is also an ass

+ Read More

More Series 24 Info

What are people saying?

Create an Account

Since you're reading about Series 24: Restrictions Against Borrowing And Lending With Customers, you might also be interested in:

Series 53 - Execution of Close-Out

Series 50 - Bond Points and Basis Points

Series 7 - 17.6.2.1 Broker-Dealer Market Access Rules

Series 26 - Registration of Successor

Series 50 - Swaptions

Series 66 - 2.4.12. Unsecured Bonds

Series 52 - 1.5.2. Tax-Exempt Commercial Paper

Series 24 - Death of a Client

Series 24 - Determining a Dividend Distribution

Series 26 - Function Two: Supervises Associated Persons and Oversees Sales Practices

Series 50 - Recordkeeping Requirements

Series 28 - Release of Disciplinary Complaints and Decisions

Series 51 - Availability

Series 65 - Marginable Securities

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I recently passed my Series 24 using Solomon Exam Prep! It was the hardest exam I've taken to date. I found all the practice exams with specific feedback to be the most helpful, though the audiobook was very helpful as well.

Diane Pouliot, RBC, Minneapolis, MN

I studied for the Series 24 for two and a half months. I thank God for his grace passed on the first attempt. The exam simulator is superb, it's projection of readiness to sit for an exam is spot on. All the feedback I received on how difficult the test was proved to be very helpful. As a result I over studied and followed the recommended study plan step by step which was key. Thanks again Jeremy and team, Solomon exam prep is the best ;)

Nikita Brown, BMI. Atlanta, GA

I just took the Series 24 and passed with an 80%. I couldn't have done it without the Solomon test simulator.

Joseph Shapiro, Edward Jones Investments, St. Louis, MO

3rd time is a charm and it took Solomon to do it. None of the other materials in my first two attempts were strong enough to enable me to reason my way to the correct answers. Solomon's angle on this material was closest to the actual test and was the reason I got there.

As an aside, the ongoing personal help was very surprising and commendable. Thank you, Solomon!

Jason Bowen, Southington, CT

I took my Series 24 on July 28 and passed!! I had not passed 2 prior Series 24 exams and was down to my last attempt. A fellow principal on my team who had not passed his Series 24 his first time told me about the Solomon practice tests and how they helped him. It was such a big help for me passing exam as the questions were structured more like the real exam than any other practice tests I’ve taken. I have since gone to other employees at my firm for other tests, such as the Series 7, SIE among others and have told them about the Solomon test materials and some of them are now purchasing Solomon as well.

Thadius Beavers, Prospera Financial. Dallas, TX.

I passed the 24 the first time with the help of the Solomon materials. The online course and the exams really helped focus in and clarify what was important. I've recommended them to all of my colleagues!

Corrinne Kaucher