The General Securities Principal Exam, commonly referred to as the Series 24 Exam, is administered by the Financial Industry Regulatory Authority (FINRA) which qualifies a registered individual to supervise or manage branch activities such as corporate securities, REITs, variable contracts, and venture capital; a general principal may also approve advertising and sales literature, including communications regarding municipal securities. The exam covers topics such as supervision of investment banking, trading, customer accounts, and the primary/secondary markets.

A Series 24 License does not qualify an individual to function as a:

Registered Options Principal - Series 4
General Securities Sales Supervisor for Options and Municipal Securities - Series 9
Municipal Securities Principal - Series 53
Municipal Fund Securities Principal - Series 51
Financial and Operations Principal - Series 27
Introducing Broker/Dealer Financial and Operations Principal - Series 28

The Series 24 Exam is made up of 150 questions. Candidates will have up to 3 1/2 hours to take the exam. 70% (105 correct answers) is considered a passing grade.

Test Breakdown	# of Questions	% of Exam
Supervision of Investment Banking Activities	23	15.3%
Supervision of Trading and Market Making Activities	39	26%
Supervision of Brokerage Office Operations	34	22.7%
Sales Supervision; General Supervision of Employees; Regulatory Framework of FINRA	38	25.3%
Compliance with Financial Responsibility Rules	16	10.7%

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