189+ Free Series 24 Practice Questions

Pass your General Securities Principal Qualification Exam exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately

~73% Pass Rate

189+ Questions

100% Free

1 / 189

Question 1

Score: 0/0

Under FINRA Rule 1010, which form must be filed when a registered representative is hired by a broker-dealer?

Form U4

Form U5

Form 8-K

Form ADV

to track

2026 Statistics

Key Facts: Series 24 Exam

~73%

Est. Pass Rate

FINRA

70%

Passing Score

105/150

60-80 hrs

Study Time

Recommended

3h 45m

Exam Duration

FINRA

$120

Exam Fee

FINRA

Series 7

Prerequisite

Or other qualifying

The Series 24 has 150 questions in 3h 45m, requiring 70% (105/150). Pass rate ~73%. Covers supervisory responsibilities: investment banking, trading, financial reporting, and regulatory compliance. Prerequisites: SIE + qualifying rep exam.

Sample Series 24 Practice Questions

Try these sample questions to test your Series 24 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 189+ question experience with AI tutoring.

1Under FINRA Rule 1010, which form must be filed when a registered representative is hired by a broker-dealer?

A.Form U4

B.Form U5

C.Form 8-K

D.Form ADV

Explanation: Form U4 is the Uniform Application for Securities Industry Registration or Transfer. It must be filed when a registered representative is hired by a broker-dealer. Form U5 is filed when an employee terminates, Form 8-K is an SEC filing for material events, and Form ADV is for investment advisers.

2A registered representative who was terminated for cause must be reported to FINRA within how many business days using Form U5?

A.10 business days

B.15 business days

C.30 business days

D.45 business days

Explanation: FINRA requires that Form U5 (Uniform Termination Notice for Securities Industry Registration) be filed within 30 business days of a registered person's termination. This form includes information about the reason for termination and any disclosure events.

3Which of the following would constitute a statutory disqualification under Section 3(a)(39) of the Securities Exchange Act of 1934?

A.Failing the Series 7 exam twice

B.A felony conviction for securities fraud within the past 10 years

C.Having less than one year of industry experience

D.Moving to a different state without updating the CRD

Explanation: A statutory disqualification includes certain criminal convictions (particularly felonies involving securities fraud), regulatory sanctions, and other disqualifying events specified in Section 3(a)(39) of the Securities Exchange Act. Failing an exam, lacking experience, or moving states do not constitute statutory disqualifications.

4Under FINRA Rule 3160, what is the maximum amount a registered representative may borrow from a customer without obtaining prior written approval from the member firm?

A.$1,000

B.$5,000

C.$10,000

D.No borrowing is permitted without prior approval

Explanation: FINRA Rule 3160 generally prohibits registered representatives from borrowing money from or lending money to customers unless certain exceptions apply. The rule requires prior written approval from the member firm for any such borrowing arrangement, with limited exceptions for immediate family members and certain other relationships.

5A registered representative wants to engage in an outside business activity as a tax preparer during non-working hours. Under FINRA Rule 3270, what is required?

A.No notification is required for activities outside of securities

B.The representative must provide written notification to the firm

C.The representative must obtain FINRA approval

D.The activity is prohibited for all registered representatives

Explanation: FINRA Rule 3270 requires registered representatives to provide written notice to their member firm before engaging in any outside business activity. The firm must then evaluate whether the activity might interfere with the representative's duties or pose a conflict of interest.

6What is the primary purpose of a branch office inspection program under FINRA rules?

A.To generate revenue through fines

B.To verify compliance with securities laws and firm policies

C.To evaluate branch profitability

D.To assess office decor and appearance

Explanation: The primary purpose of branch office inspections is to verify compliance with securities laws, regulations, and firm policies. FINRA requires member firms to inspect branch offices at regular intervals to ensure proper supervision and detect potential violations.

7A General Securities Principal wants to establish an Office of Supervisory Jurisdiction (OSJ). Which activities can an OSJ supervise?

A.Only sales activities

B.Only trading activities

C.Both sales and trading activities including order execution and portfolio management

D.Administrative functions only

Explanation: An Office of Supervisory Jurisdiction (OSJ) is a branch office that supervises one or more other branch offices. OSJs can supervise sales activities, trading activities, order execution, portfolio management, and other supervisory functions. They are responsible for overseeing the activities of the branches under their supervision.

8Under FINRA Rule 3040, what must a registered representative do before participating in any private securities transaction?

A.Nothing, as long as it occurs outside business hours

B.Provide written notice to the member firm

C.Obtain FINRA approval

D.Notify the SEC only

Explanation: FINRA Rule 3040 requires registered representatives to provide written notice to their member firm before participating in any private securities transaction. The firm must then determine whether to approve the transaction, require the representative to keep the transaction private from the firm, or take other appropriate action.

9Which of the following continuing education requirements applies to registered representatives?

A.Only Firm Element training

B.Only Regulatory Element training

C.Both Regulatory Element and Firm Element training

D.No continuing education is required after initial registration

Explanation: Registered representatives must complete both Regulatory Element training (periodic training on regulatory topics) and Firm Element training (firm-specific training on products, services, and compliance procedures). The Regulatory Element is typically required every three years, while the Firm Element is required annually.

10A registered representative opens a securities account at another broker-dealer. Under FINRA Rule 3210, what is required?

A.The representative may open the account without any notification

B.The representative must notify their employer and receive prior written consent

C.The representative must notify FINRA within 10 days

D.The representative may open the account but must close it within 30 days

Explanation: FINRA Rule 3210 requires registered persons to notify their employer and receive prior written consent before opening a securities account at another broker-dealer. The employing firm must also receive duplicate account statements or have access to the account information to monitor the representative's personal trading.

About the Series 24 Exam

The Series 24 qualifies individuals to act as a General Securities Principal, supervising securities business activities of a broker-dealer including investment banking, trading, market making, and compliance.

Questions

150 scored questions

Time Limit

3 hours 45 minutes

Passing Score

70%

Exam Fee

$120 (FINRA)

Series 24 Exam Content Outline

25%

Supervision of Investment Banking

Underwriting, private placements, due diligence, research supervision, Chinese walls

25%

Supervision of Trading

Trading practices, market maker obligations, order handling, best execution, Reg SHO

25%

Supervision of Operations

Customer accounts, correspondence, advertising, books and records, net capital

25%

Regulatory Compliance

FINRA rules, SEC regulations, AML, registration, CE, disciplinary proceedings

How to Pass the Series 24 Exam

What You Need to Know

Passing score: 70%
Exam length: 150 questions
Time limit: 3 hours 45 minutes
Exam fee: $120

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

Series 24 Study Tips from Top Performers

1Focus on supervisory procedures — what a principal must review, approve, and document

2Master FINRA advertising rules (2210)

3Study financial responsibility rules: net capital, customer protection, financial reporting

4Understand AML requirements: CIP, CTR, SAR filing, red flags

5Know registration and CE requirements for representatives

Frequently Asked Questions

What is the Series 24 pass rate?

Approximately 73%. Requires 70% (105/150). More difficult than representative exams due to supervisory scope.

What are the prerequisites?

Must pass SIE + a qualifying representative exam (usually Series 7). Must be sponsored by a FINRA member firm.

How long should I study?

4-6 weeks, 60-80 hours. Focus on supervisory responsibilities rather than memorizing rules.

How hard is the Series 24?

Moderately to highly difficult. Covers broad supervisory responsibilities including investment banking, trading, compliance, and financial responsibility.