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Series 24 Exam Questions and Answers | 100% Pass
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Series 24 Exam Questions and Answers | 100% Pass Form NMA - Answer️️ -Opens 180 day window for new application for b/d registration Finra responsibilities - Answer️️ -Obl/authority interpret rules, fees, compliance issues, disputes, CRD, education Form BD - Answer️️ -form used by B...

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  • September 25, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • series 24 exam questions and answers 100 pass

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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

Series 24 Exam Questions and Answers
| 100% Pass


Form NMA - Answer✔️✔️-Opens 180 day window for new application for b/d registration


Finra responsibilities - Answer✔️✔️-Obl/authority interpret rules, fees, compliance issues,

disputes, CRD, education

Form BD - Answer✔️✔️-form used by B/D to register with SEC, SRO's. Must be updated

within 30 days when out of date.

Form CMA - Answer✔️✔️-must be filed electronically when there is a change in

ownership or control.

Finra regulates which securities? - Answer✔️✔️-OTC nonexempt securities

Nasdaq rule 1014 - Answer✔️✔️-org chart, business plan, supervisory systems, financial

projections, record keeping

When are DBA's acceptable? - Answer✔️✔️-acceptable if filed with finra and commission

Each B/D must have a min of how many principals register (except for Sole

proprietors)? - Answer✔️✔️-2 principals (min)

DMR ( Dept of Member Registration) process/responsibilities? - Answer✔️✔️-review

applicants capital, scope of business harmony with public interest and protection of

investors.
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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
DMR issues a written decision within how many days of the pre-membership interview?

- Answer✔️✔️-30 days (grant the application, deny it, grant with restrictions)

Finra requires how many resident principals for Office of Supervisory Jurisdiction? -

Answer✔️✔️-1 resident principal

What is statutory disqualification? - Answer✔️✔️-disciplinary actions in the last 10 years

by SEC.

What is form MC400? - Answer✔️✔️-Form that needs to be completed if a firm wants to

sponsor a person who was disqualified. Disqualifications also include DUI and assault,

however, they do not pose a risk to investors and may be approved.

What is the fee paid by firms to employee statutory disqualified employees (if approved

by finra)? - Answer✔️✔️-$1500 annually Tier 1

$1000 annually Tier 2

If Finra bars or suspends a Associated Person, member firms cannot - Answer✔️✔️-

employee these people in any capacity

What is rule 9522? - Answer✔️✔️-Dept of Member Regulation (DMR) has right to

approve statutory disqualified persons to become an associate of a member firm.

What is rule Rule 4530 - Answer✔️✔️-must report within 30 calendar days.

What is Form BDW used for ? - Answer✔️✔️-used to withdraw registration as a B/D

Member firms membership can be suspended/revoked if feed are not paid with in how

many days? - Answer✔️✔️-15 days


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, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
When is a principal required? - Answer✔️✔️-1)actively engaged in mngt of investment

banking/securities business

2) When supervising associated persons

How many days does a b/d have to respond to a potential employer regarding an

associated person? - Answer✔️✔️-10 business days

How many years of employment do principals need check before signing U-4? -

Answer✔️✔️-3 years

Finger printing - Answer✔️✔️-3 attempts

summer interns do not need finger printing

non- registered persons - outside bookkeeping vendors

U-5 - Answer✔️✔️-1) must be completed in 30 days of termination.

2) new employer gets U-5 from Finra (not former employer)

3) if requested, new employee has 2 business days to forward u-5 to employer

Regulatory element requirements - Answer✔️✔️-120 days after 2nd registration

anniversary and every 3 years there after. If person fails to meet requirement, license

will be "inactive'. Cannot perform any job duties. In-Firm exemptions may apply if

approved by Finra.

Firm element - Answer✔️✔️-annual training by firm to review regulatory developments,

sup needs, scope of member business activities.




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