how the series 24 works
the series 24 exam is administered by the financial industry regulatory authority finra and covers topics such as corporate securities real estate investment trusts reits trading customer accounts and regulatory guidelines in order to be eligible for a principal registration a candidate must pass the series 24 exam the securities industry essentials sie exam and one of the following five representative level qualification exams series 7 57 79 82 or 86 87 candidates can also pass the series 24 and series 16 exams but not the sie and qualify for the research principal registration 1the series 24 examthe examination contains 150 scored questions and 10 questions that are not scored with the non scored questions randomly distributed throughout the exam to pass a candidate must correctly answer at least 105 questions of the 150 scored questions this equates to a score of 70 the test administrator provides electronic calculators and dry erase boards and markers no other calculators references or study materials are permitted in the examination room 1candidates have a maximum time of three hours and 45 minutes to complete the exam a finra member firm or other applicable firms can register a candidate to take the exam by filing a form u4 and paying the 120 examination fee 2special considerationsthe series 24 content is grouped into the five main job functions that a general securities principal engages in regularly at work for a broker dealer those job functions include 