Series 24 exam guide: the General Securities Principal exam
Last checked October 17, 2026 · Sources: FINRA Series 24 page and Series 24 content outline (PDF); Regulatory Notice 26-18
The Series 24 exam, FINRA’s General Securities Principal Qualification Exam, qualifies you to supervise a broker-dealer’s securities business. It has 150 scored multiple-choice questions in 3 hours 45 minutes, a passing score of 70, and a $235 fee. You need a sponsoring firm, and you must also hold the SIE plus a representative exam such as the Series 7 to get the principal registration.
Series 24 job functions and question counts
| Function | Questions | Share |
|---|---|---|
| F1. Supervision of Registration of Broker-Dealer and Personnel Management Activities | 9 | 6% |
| F2. Supervision of General Broker-Dealer Activities | 45 | 30% |
| F3. Supervision of Retail and Institutional Customer-related Activities | 32 | 21% |
| F4. Supervision of Trading and Market Making Activities | 32 | 21% |
| F5. Supervision of Investment Banking and Research | 32 | 21% |
Source: FINRA Series 24 page, checked October 17, 2026. Percentages are our calculation.
General broker-dealer supervision (F2) is the biggest single area. FINRA describes the exam as measuring the knowledge needed to perform a principal’s critical functions, including the rules and statutory provisions that apply to supervisory management of a general securities broker-dealer.
Corequisites: which registration you get
| You also hold | Principal registration after passing the Series 24 |
|---|---|
| SIE + Series 7 | General Securities Principal (GP) |
| SIE + Series 57 | Securities Trader Principal (TP) |
| SIE + Series 79 | Investment Banking Principal (BP) |
| SIE + Series 82 | Private Securities Offerings Principal (PO) |
| SIE + Series 86 and 87, or Series 16 | Research Principal (RP) |
Source: FINRA Series 24 page.
FINRA says a principal’s supervisory responsibilities are limited by their representative-level registrations, so a Series 24 holder with the Series 82 can only supervise within that scope. FINRA also requires candidates to be associated with and sponsored by a FINRA member firm or other applicable SRO member to take principal-level exams.
Series 24 vs Series 9 and 10
FINRA explains that the Series 9 and 10 are limited principal exams for sales supervisors and branch managers, covering sales activity in corporate securities, investment company products and variable contracts, municipal securities, options, government securities and DPPs. The Series 24 qualifies you as a general securities principal for FINRA only and lets you supervise all areas of the business, including underwriting, trading and market making, advertising and financial compliance, but it doesn’t cover municipal securities or options.
Retakes
If you fail, you re-enroll, pay the $235 fee again and wait. FINRA currently requires 30 days after a first or second failure and 180 days after a third within two years; under Regulatory Notice 26-18 those shorten to 15 and 60 days, with testing windows adjusted from January 19, 2027. See our 2027 exam changes page.
How to prepare for the Series 24
Use FINRA's content outline as your checklist; it lists the rules and tasks behind each function.
F2 carries 45 of 150 questions; F3, F4 and F5 have 32 each. F1 is only 9.
The Series 24 tests supervision: what a principal must approve, review, record and file, not just what a representative does.
Ask your firm whether it provides Series 24 prep, as many sponsoring firms do.
Common questions about the Series 24
How many questions are on the Series 24?
150 scored questions plus 10 unscored pretest questions, in 3 hours 45 minutes, according to FINRA.
What is the Series 24 passing score?
70, according to FINRA.
How much does the Series 24 cost?
$235, according to FINRA.
Do I need the Series 7 for the Series 24?
For the General Securities Principal registration, yes: you need the SIE and the Series 7 as corequisites. Other representative exams lead to other principal registrations.
Can I take the Series 24 without a sponsor?
No. FINRA requires candidates to be associated with and sponsored by a member firm.
See also our Series 7 guide, exam day guide and exam results. MockTestPrep is independent and is not affiliated with FINRA.