Frequently Asked Questions

Series 24 - FINRA General Principal Qualification Examination

  • About the Series 24

  • What does the Series 24 qualify me to do?

    The Series 24 license qualifies you to manage or supervise a FINRA member's investment banking or securities business for corporate securities, rights, warrants, closed-end funds, money market funds, REITS, asset-backed securities, (corporate) mortgage-backed securities, mutual funds, variable annuities and variable life insurance, direct participation programs, securities traders, venture capital, mergers and acquisitions, and corporate financing. However, there are several positions that a Series 24 exam will not qualify you for including supervising options and municipal securities. The Series 24 is heavy on rules, especially as they relate to supervision. 

  • Are there any prerequisites for the Series 24 exam?

    You must pass at least one of the following prerequisite exams before attempting the Series 24 exam: Series 7, Series 17, Series 37/38, Series 79, or Series 82.

    You must also pass the co-requisite Securities Industry Essentials (SIE) exam.

  • Preparing for the Series 24 Exam

  • How long should I prepare for the Series 24 exam?

    We recommend studying 100 hours over 4-10 weeks.

  • How should I prepare for the Series 24 exam?

    Solomon offers a complete Series 24 study program, which includes digital Study Guide, Exam Simulator, Audiobook, Video Lecture, and Flashcards. Visit the Solomon Series 24 page to learn more.

  • Taking the Series 24 Exam

  • Do I need to be sponsored to take the Series 24 exam?

    Yes, to take the Series 24 and any other FINRA exam, you must be sponsored by a FINRA member firm.

  • How do I register to take the Series 24?

    To take the Series 24, a FINRA member firm must file a Form U4 on your behalf through FINRA Gateway (This capability in Classic CRD was retired April 5, 2021). You will have to get fingerprinted and answer a lengthy set of questions about your background.

    Upon registering, a candidate will have 120 days to schedule the exam. You can find more details on the FINRA Test Enrollment Services System.

  • How much does the Series 24 exam cost?

    The cost of the exam is $175.

  • How many questions are on the Series 24 exam?

    There are 150 scored and 10 unscored questions, for a total of 160 questions. The 10 unscored questions are randomly distributed so test-takers do not know which questions are not scored. These unscored questions are being tried out by the exam committee.

  • How long is the Series 24 exam?

    You have three hours and 45 minutes to complete the exam. You are allowed to take restroom breaks during the exam. However, the clock will continue counting down. See the FINRA website for more details on what to expect when taking your exam.

  • What score do I need to pass the Series 24 exam?

    A score of 70% is require for passing.

    Note: Your score will be rounded down to the lowest whole number (e.g. 69.9% would be a final score of 69%--not a passing score for the Series 24 Exam).

  • Registration

  • If I stop working for my firm, how long will my Series 24 license remain active?

    You will have two years between jobs before the license expires.

    When you cease working for a firm, your employer will file a Form U5 to terminate your registration. Your next employer will file a Form U4, which will re-register you. As long as you do not exceed two years between employers, your Series 24 license will remain active. 

General exam questions? See our general FAQs.

For information about Solomon Series 24 exam study materials, please click here.