Several licenses are required to work in the financial-planning and financial services industry. The Series 24 exam is given to those seeking license in a managerial position. The Series 24 license is formally known as the General Securities Principal license and is a securities license required by the FINRA (Financial Industry Regulation Authority) or a finance professional to be qualified to supervise investment branch activities, investment banking or securities business for corporate securities, direct participation programs, and investment company products/variable contracts.
The Series 24 is a license which allows financial planners to become branch managers and supervisors in the financial-planning industry.
Successful completion of the Series 7, Series 17, Series 37, Series 38, Series 62, or Series 82 exam is a prerequisite to the granting of a series 24 license.
FINRA ((Financial Industry Regulation Authority) administers the exam for the Series 24 License and issues it to those who qualify. FINRA is the largest independent securities regulator in the U.S. The Financial Industry Regulatory Authority administers the license exam.
The Series 24 exam tests knowledge of stocks, trusts, trading methods, margin accounts, investment banking, and the rules and regulations of the financial system.
The license exam takes three to four hours to complete; there are 150 multiple-choice questions to be answered. Most candidates find that several weeks of intensive study are necessary beforehand to do well on the exam.
Series 24 License demonstrates knowledge in “corporate securities, real estate investment trusts, trading, customer accounts, regulatory guidelines and more.”
The Series 24 License exam consists of 150 multiple choice questions. Those taking the test have 210 minutes i.e 3 hours and 30 minutes to complete the test. They must get 70 percent of the questions correct to receive a passing grade. You can find the Exam center here, select the location closest to you from the list.
Visit : Official Exam Website http://www.finra.org/