Series 24 Exam Prep

Series 24 Exam Prep Materials

When you make the decision to sit for the Series 24 Exam you want to know that you are working with the best products on the market. The reality is you are about to take on of the most difficult exams most financial service professionals will ever take. this company, Our series 24 training products give you the information you need to not only learn the material, but to master it.

At the Securities Institute, we understand what it takes to pass the series 24 exam and we take the time to cover every detail so you never have to worry about the quality of your material. Our products are top of the line and we believe they are the best that the industry has to offer.

How can we say we’re the best? Because participants who utilize our study materials maintain the highest pass rates in the industry. Plus, as the authors of this material you are buying directly from the source. Have questions? Then feel free to contact us at any time. We are here to help and happy to hear from you!

Series 24 Exam Textbook

As you begin to prepare for your Series 24 Exam, this textbook should absolutely be your starting point. Why? Because it contains everything you need to pass the test all in one well designed text. This is the foundation of your efforts and it is literally packed with sample questions, stats, data and facts from cover to cover.

Plus, as with all our textbooks, the Series 24 Exam Textbook was designed in partnership with John Wiley & Sons, the top name in financial education. This partnership ensures you are receiving the best of the best right from the very beginning. Our series 24 textbook is packed with test tips, examples and cheat sheets to make sure your study time is well focused.

Series 24 Exam Prep Software

One of the best ways to prepare for the Series 24 Exam is to take as many sample tests as you possibly can. With each test your skills will grow stronger as your confidence in applying the knowledge increases . Why? Because our software is much more than just another set of questions. It is designed by industry veterans who have carefully crafted a bank of questions to mimic the actual exam.

With our Series 24 Exam Prep Software you will be presented with a random selection of questions. No static exams here. No two will be the same. You also have the ability to focus your efforts on the areas you feel need the most work. Choose the topics. Choose the number of questions. You can even choose how and when the answers are revealed. Plus, the software will track your progress and alert you when you are ready to sit for the exam. Once you have mastered your practice tests take simulated final exams with the push of a button. Your last exam should be you GreenLight exam. Pass it and you should be extremely confident in your ability to pass the test.

One of the greatest benefits of our Series 24 Exam Prep Software is your ability to take it anywhere. The software can be accessed by any browser and all major mobile devices. Plus, you will have access for a full six months.

Series 24 Exam Prep Software Details:

• Over 2,000 Unique Questions
• Works with all major browsers and mobile devices.

Series 24 Online Video Class

While some participants do very well studying on their own, others require a more interactive approach. Especially if they are visual learners. Knowing this fact to be true led us to developing the Series 24 Online Video Class.

This class is designed to bridge the gap between self-study preparation and a classroom environment. Students watch the videos as they follow your book chapter by chapter. You are still able to move at your own pace and you can watch each video as many times as you want until you are confident in the covered material. The series 24 video will show tell you exactly what you will see on the exam and how it is being tested. 15 hours of HD video with key topics displayed on the screen are ready to guide you through your exam preparation.

Series 24 Online Video Class Details:

• Full Access for 6 Month
• Fully Interactive Delivery Method
• Fully Interactive Delivery Method

Series 24 Mobile eBook

The reality of today’s world is that most of us are mobile more than we aren’t. Tablets have become a necessity and Smart Phones are our constant companions. Knowing this it is no surprise that many of our participants prefer working with an eBook rather than a heavy printed text.

But, we weren’t happy with a cumbersome PDF that was difficult to work with and bulky to download. Instead we took a different approach.

Our Series 24 Mobile eBook is a fully interactive mobile learning library. The environment is designed to be dynamic and allows participants to highlight, take notes and even join a study group of their peers. You can ask questions, get testing tips and even share ideas without ever exiting the mobile app. This is truly the next generation of exam prep right from the comfort of your very own Smart Phone!

Series 24 Mobile eBook Supported Platforms Include:

• iOS
• Android
• Kindle FIRE HD
• Kindle FIRE HDX
• Nook HD
• Nook HD+

Combination Packages

For most participants preparing for the Series 24 Exam requires a mix of study materials designed to fit their unique needs. In an effort to make it easier we have pre-curated a selection of our most popular combinations.

The benefit? You have everything you need pre-packed at a lower cost. You get exactly what you need and you even get to save money! Plus, with these packages you are instant equipped with everything you need to pass your exam in the shortest period possible.

Let’s take a closer look.

Combo #1: Series 24 Textbook & Exam Prep Software

This is easily one of our most popular combos for those individuals seeking to sit for the Series 24 Exam. The package has the best of both worlds and includes both your Textbook and your Exam Prep Software. A combination that allows you to learn the material and then put your knowledge to the test. For those who prefer a strictly self-study approach this can be a very effective combination.

Plus, by ordering the Combo you will receive Free Shipping on your entire order!

Combo #1 Includes:

• Series 24 Textbook
• Series 24 Practice Exam Software

Combo #2: Series 24 Complete Self Study Solution

This is our top shelf package that is designed to cover your preparation efforts from every angle. Not only will you receive the Series 24 Textbook and the Exam Prep Software but it is also packed with the extra benefit of the Online Video Class AND the eBook.

Truly this package has everything!

If you want to make sure that you leave no stone unturned then this is definitely the study option for you. Plus, by ordering the Combo you will receive Free Shipping on your entire order!

Combo #2 Includes:

• Series 24 Textbook
• Series 24 Practice Exam Software
• Series 24 Online Video Class
• Series 24 eBook

FINRA Series 24 – Exam Information

The Series 24 Exam is one of several financial based exams administered by the Financial Industry Regulatory Authority, or FINRA. Successfully passing this exam will allow an individual to expand their professional qualifications.

Enrollment Fee:

The registration fee for the Series 24 Exam is $120. Please note that this price represents only the enrollment fee and other fees are likely to apply.

Prerequisite:

At this time there are two prerequisites for the Series 24 Exam.

Individual Candidates Must:

• Be sponsored by an FINRA member firm
• Have already successfully passed either the Series 7 or the Series 62 Exam

Format:

All 150 questions on the Series 24 Exam are Multiple Choice.

Number of Questions:

• Supervision of Registration of the Broker-Dealer and Personnel Management Activities – 9
• Supervision of General Broker-Dealer Activities – 45
• Supervision of Retail and Institutional Customer Related Activities – 32
• Supervision of Trading and Market Making Activities – 32
• Supervision of Investment Banking and Research – 32

Total Questions – 150

Exam Details:

The time limit for the Series 24 Exam is 210 minutes. Also, candidates should be aware that a score of 70% or higher is required to pass the exam.

How to Pass the Series 24 Exam and become a General Securities Principal

What is the best way to prepare for the Series 24 exam?

When preparing for the Series 24 Exam, consistency and variety are key. Make sure that you are setting aside time daily to study and are taking care to cover all the relevant information. It can be difficult to cover all the bases, but that is why we have taken such care with our study materials. We want to make sure that we do all the work on the front end to give you the confidence to master the material at your own pace.

Passing the Series 24 Exam

Have you even known someone who tested well? While you sat for hours with your nose in the books they kicked back and relaxed their way through study sessions. The frustrating part? They still got the grade even though they didn’t seem to put in the effort!

Here’s the good news. They aren’t doing anything special! These people just understand how to apply logic to a testing situation, especially multiple choice. And their simple strategies can be easily replicated time and time again.

So today we are going to spend some time learning the tricks that will help you beat the test! Let’s get started.

Step 1: Read the Questions

The first thing we need to do is take our time and read the WHOLE question. Don’t skim. It sounds easy, but over time we have taught ourselves to only read the high points. Our brain looks for key words and we fill in the rest based on experience. It’s a strategy that typically serves us well, but can be dire in a testing situation.

So make a point to slow down and read every word. Then, if you need to read it again. Make sure you understand the question before you select your answer.

Step 2: Eliminate the Negative

Now that we know what the question is asking, read through each answer carefully. If you see one you know is wrong? Mark it out! In this step we are going to use process of elimination to reduce the number of possible choices. Each choice you eliminate increases your odds of selecting the right answer by 25%.

Eliminate 2? Now you have gone from a 25% chance of getting the question right to a 50% chance. Those are pretty good odds!

Step 3: Inspect the Answers

Once you have eliminated the wrong answers it’s time to look for a few key options that commonly appear on the Series 24 Exam.

All of the Above – If this answer remains after process of elimination, choose it! Odds are that it is the correct choice.

None of the Above – The writers of the Series 24 Exam really prefer to give the correct answer in the possible options. So unless you are 100% sure, do not select this. You will improve your odds and improve your score. Not Enough Information to Determine – I love seeing this choice because it’s almost a freebie. This is NEVER the correct answer on the Series 24 Exam. You will always have enough information to answer the question.

Step 4: Stick to Your Guns

Of all the tips I give you, this one is likely to be the hardest to follow. Using this system applies a logical approach to a multiple choice exam. So, with that in mind, once you have selected an answer don’t change it! The temptation will be strong, but doing so throws logic out the window and leaves your score up to chance. Trust me when I say that this is not the best way to pass the Series 24 Exam. You want to use the system and then stay strong! Your score will thank you.

Step 5: Power Through

When you sit down to take the Series 24 Exam you will have plenty of time to finish. I don’t want you to worry about that. But I do want you to have a strategy in terms of applying what you have learned here. The goal is not to spend your time wrestling with the questions you aren’t sure of. Instead, I want you to focus on answering the question you “know” and then saving the others for the end.

Here’s how it works. When you come to a question you don’t know the answer to you will:

• 1. Select any answer. The system will not let you move forward until you have checked one of the multiple choice options.
• 2. Click on the box that says “record and review.” This will move the question to the end of the line so to speak.
• 3. When you are done with the exam the computer will show you all the questions you marked for review and you will have a chance to give them a closer look. This allows you to take your time without worrying about finishing the rest of your test.

At the end of the day I KNOW you have what it takes to pass the Series 24 Exam and be successful. My goal is to help you move forward with confidence and comfort knowing that you have a plan in place for those few questions you just don’t know the answer to. So study hard and be prepared because I know you’ve got this!

Series 24 Exam Details:

• Exam grants candidate the license to supervise a broker dealer’s general securities business.
• Exam consists of 150 multiple choice questions.
• Time limit for the exam is 210 minutes.
• Time limit for the exam is 210 minutes.

Taking the Series 24 Exam

The Series 24 Exam is delivered via the PROCTOR system. This is known to be a very user friendly deliver method that many candidates compare to a standard ATM. The test is comprised of 150 Multiple Choice questions and will last a maximum of 3½ hours.

Keep in mind that each Series 24 Exam is completely unique. This is because questions are chosen at random from an extensive testing bank. Therefore no two candidates will sit for the exact same exam.

Questions for the Series 24 Exam are pulled from the followed topics:

• Supervision of Registration of the Broker-Dealer and Personnel Management Activities – 9
• Supervision of General Broker-Dealer Activities – 45
• Supervision of Retail and Institutional Customer Related Activities – 32
• Supervision of Trading and Market Making Activities – 32
• Supervision of Investment Banking and Research – 32

Total Questions – 150

How to Prepare for the Series 24 Exam

Many of our customers report that they achieve the best results from a combination of studying the textbook, participating in the online video class and taking as many practice questions as possible. Effectively utilizing our Series 24 Materials will increase your knowledge base and help you move towards complete mastery of the subject matter.

Please note: We highly recommend you schedule your exam no more than one week after finishing your preparation efforts. This will ensure that the material is fresh in your mind and increase your chances of successfully passing the exam.

What type of business may a Series 24 registered principal conduct?

Passing the Series 24 exam allows and individual to supervise and manage a firm and its agents, conducting a general securities business.

What score is needed to pass the Series 24 exam?

Passing the Series 24 exam requires a score of 70% or higher.

Are there are prerequisites for the Series 24 exam?

At this time there are two prerequisites for the Series 24 Exam.

Individual Candidates Must:

• Be sponsored by an FINRA member firm
• Have already successfully passed either the Series 7 or the Series 62 Exam

How do I schedule my Series 24 exam?

To schedule your Series 24 exam simply have your firm’s compliance department to contact your local testing centers. The test is available nationwide and may be taken any day the testing center is open.

What must I bring to the exam center?

All candidates must arrive with a valid photo ID. All other materials, including scratch paper and a calculator, will be provided by the testing center.

When will I receive the results for my Series 24 exam?

Each Series 24 exam is graded instantly upon completion. Your results will appear on screen and then the testing center will provide you with a paper copy before you leave.

Series 24 Test-Taking Tips!

• Read the full question before answering
• Identify what the question is asking
• Identify key words and phrases
• Watch out for hedge clauses, for example, except and not
• Eliminate wrong answers
• Identify synonymous terms
• Be wary of changing answers

Series 24 Tutoring

Some of our clients find that they see more progress by working with one of our professional tutors. This type of one-on-one attention can have the power to greatly excel your study efforts and shorten the amount of time required to successfully pass the Series 24 exam. If you are considering private tutoring then please feel free to contact us at any time. We are happy to help!

Not sure if you need to work with a tutor? Then take a moment to read the following scenarios. They outline typical scenarios where we find tutoring to be the most effective.

• 1. You have studied extensively for the exam but are still having difficulty passing the practice tests.
• 2. You have recently failed the exam and are scheduled for a re-test.
• 3. You are an industry veteran who does not have time to self-study.

It Makes a Difference

People often ask us about tutoring and the difference it can make in your Series 24 preparation efforts. The truth is that this type of focused, one-on-one attention can absolutely be the difference between success and failure. But don’t take our word for it! Below we have listed several case studies for participants who have utilized our tutoring services and the outcomes they achieved. Take a few minutes to read for yourself how tutoring helped them move forward effectively.

Series 24 Tutoring Case Study Number 1

Recently a Series 24 candidate contacted us with concerns about his exam. He had spent a significant amount of time preparing for the exam but still was not scoring well on his practice tests. The problem seemed to be centered around the Supervision of Trading and Market Making and Supervision of Investment Banking sections on the practice tests, and we knew he was not ready to pass the actual Series 24 exam. But, as the manager of an OSJ for a large broker dealer, failure was not an option.

We know that the majority of all Series 24 candidates do not have experience working on a trading desk making markets and haven’t been a part of the syndicate team structuring underwritings. Knowing this allowed us to quickly, and efficiently, build a plan that would help him move forward.

Solution

One of our Series 24 tutors who has extensive experience in this area took the time to review this candidate’s exam results. He quickly found that the individual was missing questions relating to customer order protection, order access, trade reporting and syndicate books and records on the practice exams.

The instructor laid out a plan and they got started. The two spent a total of five hours together connecting via virtual training. They worked through the key areas step by step so the candidate could see what he was missing and how to apply it. Specifically they talked about the subtle distinctions for order handling, syndicate books and testing strategies.

With this approach the candidate easily mastered the material and passed his exam the following week.

Series 24 Tutoring Case Study Number 2

A new Series 24 candidate approached us with some concerns. He worked on a trading desk and was very comfortable with the Supervision of Trading and Market Making sections of the exam but was struggling with the information related to operations outside of the trading department.

And the clock was ticking.

This candidate had a promotion riding on the successful completion of the Series 24 exam. He had previously failed the test with a 62%, but was being given one more chance to pass before they gave the promotion to someone else. At this point both his promotion AND his pay increase were being held contingent on successfully passing the exam.

Solution

As it happens, one of our Series 24 tutors has extensive experience as a Chief Compliance Officer for a regional Broker Dealer. Because of this key experience we decided they would be ideal to take this lead in this situation.

Our instructor looked over the situation and assigned to mixture of reading assignments and chapter tests. Then the two scheduled regular phone calls to review notes and to work together on mastering the material. Once the candidate was more comfortable with applying what he had learned the two moved forward by scheduling 2 four hour face-to-face sessions. This time was used to cover all remaining details and ensure the candidate was ready to sit for the exam.

A few short days later the candidate passed the test with a score of 83%!

Series 24 Tutoring Case Study Number 3

One of clients contacted us after he decided to break from his long time firm and go independent. He plan was to take his four junior partners with him, but to do that appropriately he needed to first pass the Series 24 exam. This candidate was in the process of opening his firm while managing over a billion dollars in accounts and therefore had very little time left over to study.

Plus, his exam was in less than three weeks! With no room for error he knew that working with a professional tutor was his only option.

Solution

First, we sent the candidate our full line of Series 24 preparation materials via next day air. His tutor set up a study schedule for him that would maximize his time while still allowing him to master the material.

Because of this he was advised to focus on:

• Supervision of Trading
• Market Making
• Supervision of Investment Banking

For the first two weeks our tutor worked with the candidate via phone each day. The two emailed back and forth and were able to push through the study process. Then, right before test day, the tutor met with the candidate from 9am to 5pm for two straight days. They did a highly comprehensive review of the material and made sure the candidate could apply the knowledge correctly. The candidate was able to successfully pass his exam the very next day and then opened his office just two short weeks later.

Series 24 License Frequently asked questions / FAQs

1) Why should I get a series 24 license ?

People who obtain the series 24 license are looking to take their financial services career to the next level. Perhaps you are looking to become a department supervisor for your broker dealer. Or maybe you are looking to become the manager of an OSJ and want to earn additional compensation in the form of overrides on the production of the agents you supervise. As such you will be required to pass the series 24 exam by your employer. Often times as a condition of employment, individuals are required to obtain the series 24 license to function in their job. You may be joining your firm as a branch manager, department head or in some other capacity that dictates that you pass the series 24 exam. Your firm’s compliance department, home office or HR will notify individuals directly or through their managers as to the time frame for taking the exam

2) What will I be able to do with a series 24 license?

A series 24 license will allow you will be able to move up the corporate ladder at your firm and to supervise business in all general securities products including stocks, bonds, options, rights , warrants, open and closed end investment company shares and ETFs. Once you have obtained a series 24 license, you may supervise registered persons, trading departments, and investment banking. You will also be licensed to review and approve retail communication, new accounts and orders. Passing the series 24 exam and becoming series 24 licensed is a significant accomplishment.

3) How hard is it to get a series 24 license ?

The series 24 exam without question is the most challenging exam most people ever take in the financial services world. Yes there are harder exams, but those are taken by a much smaller universe of people. Passing the series 24 exams is a significant challenge and obtaining a series 24 license takes focus and dedication to the exam preparation process. Students should not take this test lightly. You must thoroughly prepare to take the exam and should make it a top priority. The series 24 exam covers areas many people are never exposed to in their careers. Many people who take the series 24 exam are coming from the retail brokerage side of the business or are working in a compliance department. As such many have never had any experience dealing with areas of trading and market making or investment banking. These two areas are heavily tested on the exam. For those who are seeking to become series 24 licensed who hail from the trading or investment banking departments, these individuals find the supervision of customer accounts and sales practices most challenging. You should prepare for the exam by reading a textbook completely with a highlighter. You must read the book, there are no shortcuts and students need to understand this. You must clear your schedule, shut off your phone and focus. In addition to obtaining the knowledge required by the exam , you must master the application of the information by taking thousands of practice questions. We recommend at least 80 – 100 hours of preparation to ensure you pass your series 24 exam and become licensed as a general securities principal.

4) Is my series 24 license transferable ?

If you are not sure of the answer to this question now, you will be once you prepare for the exam. The answer is that while it feels like your series 24 license is indeed transferable, in actuality it is not. If you wish to change employers by switching broker dealers, your series 24 registration / license must be terminated by your current FINRA member firm. Your former employer / the firm that you are leaving will fill out and submit a Form U5 to FINRA. This will terminate your employment and your registration with that firm. When you arrive at your new firm you must fill out and submit a new Form U4. This will begin your registration with your new firm and your series 24 license will become active at your new firm upon receiving notice from FINRA and the states where you conduct business. As a series 24 licensed professional it may indeed be part of your job description to sign and submit U4s and U5s to FINRA.

5) How much does it cost to get a series 24 license ?

Obtaining a series 24 license will require many people to make an investment in their professional development. Your series 24 license will empower you to supervise a wide variety of activities being conducted as part of a general securities business. Many people who obtain a series 24 license enjoy lucrative and successful careers. The good news is, for those who have to pay for it out of pocket, the costs are relatively low when compared to other types of training, certification and college expenses. Some employers pick up or reimburse the costs of training and the testing and registration fees Even for these people many obtain additional resources such as additional test questions, books or videos to ensure they pass their exam. For those who have to pay all of the expenses out of pocket, it usually only costs a few hundred dollars for the testing and registration fees and the training materials. . Since many people who take the series 24 are already fairly well established, the costs are very easy to afford You will find that obtaining a series 24 license opens many doors for you throughout your career.

6) What are the continuing education requirements once I have a series 24 license ?

Once you have obtained your series 24 license you will be required to meet certain continuing educational requirements.. You will find that this works much in the same way you were required to take continuing education for your series 7 license. Every year your firm will send out a questionnaire known as a “needs analysis” to each of its registered personnel. Based on the response to the that questionnaire each representative will be assigned continuing education courses to complete. As a series 24 licensed individual, your course assignments will now change. Your firm may have you attend a seminar, webinar or take an online course to satisfy the firm element continuing education requirement. You will also be required to complete the regulatory continuing education requirement which is administered by FINRA. You will now be required to be required to complete the principal level continuing education requirement by successfully completing the S201 course based on your date of association with a FINRA member. Your date of association for most people will be the date you passed your exam. You will be required to complete the S201 on the second anniversary of passing your exam and every three years thereafter. The S201 course may be completed at an approved facility or on FINRA’s continuing education portal. You will only be required to complete the S201 continuing education course. You will no longer be required to complete the S101 registered representative course.

7) Will I need to obtain any other license to be fully registered ?

Your series 24 license in addition to those licenses you have already obtained. The series 7 is a prerequisite to take the series 24 exam and by the time you sit for the series 24 exam chances are you have completed all of your other licensing requirements. We hope that this answers many of your frequently asked questions about the series 24 license. If you have any additional questions please call or email us.

Good luck on your exam.

The Securities Institute of America, Inc