This Series 24 exam study guide is for representatives stepping up to a principal role. The Series 24 qualifies a General Securities Principal — the person responsible for supervising most of a broker-dealer's business lines. It is long, broad, and built around supervisory judgment rather than rote rule recall.
What is the Series 24 exam?
The Series 24 qualifies you to supervise general securities activity at a firm. It requires sponsorship and a qualifying representative-level registration, such as the Series 7, because you are expected to already understand the business you will now oversee. The exam is less about isolated facts and more about how a principal reviews, approves, and enforces. FINRA's page is the Series 24 overview.
Series 24 exam format at a glance
- Scored questions: 150 (160 total, 10 unscored)
- Time limit: 3 hours 45 minutes
- Passing score: 70 — about 105 of 150 correct
- Sponsorship: required, with a qualifying rep registration
These details are accurate as of May 2026. Regulators update exam specifications from time to time, so always confirm the latest format and fee on the official exam page before you schedule.
What the Series 24 tests
The exam spans supervision of registration and personnel, general broker-dealer activities, retail and institutional customer activities, trading and market making, and investment banking and research. The throughline is supervisory responsibility — what a principal must review, approve, document, and enforce across each area. Note that options, municipal securities, and financial operations have their own specialized principal exams and are not the focus of the Series 24.
How to study for the Series 24
The Series 24 rewards understanding the supervisory structure, not memorizing isolated rules. For each business line, learn who supervises what, what requires written approval, and which records must be kept and for how long. Because the material is broad, organize your prep by the functional areas and track which ones you are weakest in. Timed full-length practice matters here too — nearly four hours of dense supervisory questions is taxing, and pacing problems sink otherwise-prepared candidates.
Common Series 24 mistakes
- Memorizing rules without grasping the supervisory logic that ties them together.
- Assuming the Series 24 covers options or municipal supervision (it does not).
- Neglecting recordkeeping and written-approval requirements.
The Exam Bootcamp Series 24 study guide
Our Series 24 study guide and question bank organizes the material by supervisory function so the structure stays clear, with explanations built around how a principal actually makes decisions. Compare every exam we cover on the study guides page.
Who should take the Series 24?
The Series 24 is for representatives moving into a general principal role, supervising most of a firm's securities business. It requires a qualifying registration such as the Series 7, because the exam assumes you already understand the activities you will now oversee. It is one of the broader, more demanding principal exams.
Series 24 study timeline
Given its breadth and near-four-hour length, most candidates need several weeks of structured prep. Organize your plan around the functional areas — personnel and registration, general broker-dealer activities, customer activities, trading and market making, and banking and research — and track which areas are weakest so your final review is targeted rather than scattered.
Series 24 exam FAQs
What do I need before the Series 24?
You must be sponsored and hold a qualifying representative registration, most commonly the Series 7.
Does the Series 24 cover options and municipal supervision?
No. Those areas require separate principal exams, such as the Series 9/10 for options sales supervision.
How hard is the Series 24?
It is considered one of the tougher principal exams because of its breadth and length, so a structured, function-by-function plan is key.
