Checked 25 October 2026. Format as stated on the FINRA Series 24 page and in the Series 24 Content Outline, both read 25 Oct 2026.
Practice questions are most useful for finding what you do not know yet, not for collecting scores. This guide covers how to use practice questions on the Series 24, the pace the real exam asks for, what to drill in each of the five job functions in FINRA's content outline, and three practice questions you can try now, each with the reasoning behind the answer. FINRA's Series 24 Content Outline includes three sample items that show the question formats, and FINRA says they do not reflect the difficulty of actual exam items; the questions on this page are our own. ProSyllabus is an independent study site, not part of FINRA. The facts here are quoted or summarised from the official pages listed under Sources.
FINRA Series 24 page and the Series 24 Content Outline, read 25 Oct 2026.
FreeTests: Function 1: Registration and Personnel Management · Function 3: Retail and Institutional Customer Activities · Function 4: Trading and Market Making
Series 24 Practice Exam: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer
Start nowabout 5 minThis one is free · no sign-in needed
Your result shows how long each question took you.
A practice routine that uses each question once
Our suggested routine
- Early on, work through practice questions untimed, function by function, and list every wrong or guessed answer by outline task (1.2, 2.5, 4.3 and so on).
- Study the tasks that cost you most from the rules the outline lists under them, reading the rule text itself where a deadline or a threshold is involved.
- In the last two or three weeks, sit full-length mocks with the real clock: 3 hours 45 minutes, in one sitting, no notes.
- After each mock, read the explanation for every question you got wrong or guessed, not only the score.
- Do not retake a mock soon after taking it: a quick retake measures memory, not knowledge.
Our suggestions, not FINRA's.
Series 24 Content Outline, structure of the exam: 150 scored items. Shares are our arithmetic. The 10 unscored pretest items are spread through the exam.
The pace the real exam asks for
The real Series 24 gives you 3 hours 45 minutes for 160 items, of which 10 are unscored pretest items you cannot identify. That is about 84 seconds an item (our arithmetic). The outline says there is no penalty for guessing, so FINRA advises answering every item. The outline says some items may involve calculations. Our suggestion: keep a steady pace and, if a calculation is slowing you down, mark it and come back to it on a second pass. A simple way to check your pace in a full mock is to note the clock at fixed points:
| After this many items | Time used at an even pace (ours) |
|---|---|
| 40 | about 56 minutes |
| 80 | about 1 hour 53 minutes |
| 120 | about 2 hours 49 minutes |
| 160 | 3 hours 45 minutes |
If you are well behind at the halfway mark, you are probably spending too long on items you cannot settle. Pick your best answer, mark it for review if your test lets you, and move on.
FreeTests: Function 1: Registration and Personnel Management · Function 3: Retail and Institutional Customer Activities · Function 4: Trading and Market Making
Series 24 Practice Exam: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer
Start nowabout 5 minThis one is free · no sign-in needed
Your result shows how long each question took you.
What to drill in each job function
The outline sets how many scored items each function gets. Our drill list below picks rule points from the outline's task headings and rule lists. It is ours, not FINRA's list of what appears on any exam, and every rule named here is in the outline.
| Function (scored items) | Worth drilling (ours) |
|---|---|
| 1. Registration and personnel (9) | Which form does what: Form BD and Form BDW for the firm, Form BR for branch offices, Forms U4 and U5 for people, and the deadlines for filing and amending them. What a principal checks before hiring, statutory disqualification and when heightened supervision is needed. The regulatory element and firm element of continuing education (FINRA Rule 1240). |
| 2. General broker-dealer activities (45) | The supervisory system under FINRA Rule 3110: written procedures, office designations, inspection cycles and the review of correspondence. Supervisory control testing (Rule 3120) and the annual CEO certification (Rule 3130). Outside business activities and private securities transactions, gifts and non-cash compensation. Complaint and event reporting under Rule 4530. Record retention under SEC Rule 17a-4. Net capital (SEC Rule 15c3-1) and the customer protection rule (SEC Rule 15c3-3). |
| 3. Customer-related activities (32) | Account opening under FINRA Rule 4512 and the customer identification program. Anti-money laundering programs (FINRA Rule 3310) and suspicious activity. Privacy and identity theft under Regulations S-P and S-ID. Communications under FINRA Rule 2210: correspondence, retail and institutional communications, who approves what and what must be filed. Regulation Best Interest and FINRA Rule 2111, and fair prices and markups under FINRA Rule 2121. |
| 4. Trading and market making (32) | Best execution (FINRA Rule 5310) and the protection of customer orders (Rule 5320). Short sales under Regulation SHO: the locate and close-out rules. Market access controls under SEC Rule 15c3-5. Manipulative and prohibited trading. Trade confirmation requirements, settlement under SEC Rule 15c6-1, and which trade reporting facility takes which trade. |
| 5. Investment banking and research (32) | The registration process under the Securities Act of 1933 and the communications allowed in each period (Rules 134, 135, 163, 164, 168 and 169). Private placements under Regulation D and private resales to institutions under Rule 144A, and FINRA Rules 5122 and 5123. Underwriting terms (Rule 5110) and conflicts of interest (Rule 5121). New-issue allocations under Rules 5130 and 5131. Regulation M. The research analyst and research report rules (FINRA Rule 2241) and Regulation AC. |
Notice what is missing: options and municipal securities. FINRA's Series 24 page says the general securities principal qualification does not cover them, so a Series 24 drill list should not spend time on options strategies or municipal underwritings.
From representative to principal: how the questions change
To hold the General Securities Principal registration you also need the SIE and the Series 7 (FINRA's corequisites), so if you have studied at representative level, much of the vocabulary carries over, but the point of view does not. A representative question asks what the customer should be told or which order type fits; a principal question asks what the firm must have in place, who must approve it, what must be kept and for how long, and what must be reported to whom. The table below sets out the shift as we see it; it is our own comparison, not FINRA's.
| Topic | Representative-level view (ours) | Principal-level view (ours) |
|---|---|---|
| Communications with the public | Which category a piece falls into and what it may say | Who must approve it before use, which pieces must be filed with FINRA and when, and how the review is evidenced and kept |
| Customer accounts | What information to collect from the customer | Who approves the account, how the customer identification program and anti-money laundering program are designed and tested, and what triggers escalation |
| Trading | Order types and how a trade settles | Best-execution reviews, market access controls, short-sale locates and close-outs, and whether trades were reported on time |
| Offerings | How a new issue reaches the customer | The offering and new-issue rules the outline lists (FINRA Rules 5110, 5130 and 5131) and SEC Regulation M, from the side of the firm that must comply |
| People | Their own registration and outside activities | Registering others, reviewing their outside activities, inspecting their offices and reporting their complaints and disciplinary events |
A useful habit while practising: for every rule you meet, ask three questions. What must the firm do? Who signs off? What is the deadline? It is a habit we suggest, not a FINRA rule.
FreeTests: Function 1: Registration and Personnel Management · Function 3: Retail and Institutional Customer Activities · Function 4: Trading and Market Making
Series 24 Practice Exam: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer
Start nowabout 5 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Try three practice questions
These three are original questions written to the outline. Try each before you open the answer.
Practice question · Function 1 · Registration and Personnel Management
A firm files an initial Form U4 for a new hire. Under FINRA Rule 3110(e), by when must the firm's written procedures be reasonably designed to verify the form's accuracy and completeness, including a search of public records?
- A. Before the end of the new hire's first calendar year
- B. Only if FINRA asks the firm to verify the information
- C. No later than 30 calendar days after the form is filed
- D. No later than 10 business days after the form is filed
Show the answer and why
Answer: C.
FINRA Rule 3110(e) requires written procedures reasonably designed to verify the accuracy and completeness of the information in an initial or transfer Form U4 no later than 30 calendar days after the form is filed with FINRA, including at a minimum a search of reasonably available public records.
An original ProSyllabus practice question, written to the topics in FINRA's Series 24 Content Outline. It is not a FINRA exam question.
Practice question · Function 3 · Retail and Institutional Customer Activities
A firm plans a one-month contest paying a bonus to the representatives who sell the most shares of a new in-house fund, which they will recommend to retail customers. Under Regulation Best Interest, the firm must:
- A. Get principal approval of each sale
- B. Disclose the contest to customers
- C. Eliminate the contest
- D. Cap the bonus at a small amount
Show the answer and why
Answer: C.
SEC Rule 15l-1(a)(2)(iii)(D) requires policies reasonably designed to identify and eliminate sales contests, sales quotas, bonuses and non-cash compensation based on sales of specific securities or specific types of securities within a limited period. Disclosure alone does not cure it.
An original ProSyllabus practice question, written to the topics in FINRA's Series 24 Content Outline. It is not a FINRA exam question.
Practice question · Function 4 · Trading and Market Making
Under Regulation SHO Rule 200(g), how must a broker-dealer mark every sell order in an equity security?
- A. Long or short, nothing else
- B. Long, short or short exempt
- C. Agency, principal or riskless
- D. Solicited or unsolicited
Show the answer and why
Answer: B.
Regulation SHO Rule 200(g) requires a broker-dealer to mark all sell orders of any equity security as "long," "short," or "short exempt."
An original ProSyllabus practice question, written to the topics in FINRA's Series 24 Content Outline. It is not a FINRA exam question.
Reading a practice score
A percentage on a practice test is not a Series 24 score. FINRA's passing score of 70 sits on a common scale after a statistical step called equating, which adjusts for small differences in difficulty between sets of exam items. The FINRA pages listed under Sources give no way to turn the scaled 70 into a number of correct answers, so treat any practice percentage as a rough guide to where you are strong and weak, not as a forecast. Score yourself by job function as well as overall: a strong total can hide a weak Function 4 or 5, which together carry 64 of the 150 scored items. Our Series 24 format and passing score guide sets out what FINRA publishes about the exam.
FreeTests: Function 1: Registration and Personnel Management · Function 3: Retail and Institutional Customer Activities · Function 4: Trading and Market Making
Series 24 Practice Exam: free sample
Answer 3 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 5 minutes · free · no sign-in.
3 questions to answer
Start nowabout 5 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Frequently asked questions
Does FINRA offer a free Series 24 practice test?
The FINRA pages listed under Sources do not offer one. The Series 24 Content Outline includes three sample items to show the question formats, and FINRA says they do not reflect the difficulty of actual exam items.
How many questions are on the real Series 24?
150 scored multiple-choice items plus 10 unidentified unscored pretest items: 160 in all, in 3 hours 45 minutes (Series 24 Content Outline).
How long should I spend on each Series 24 question?
About 84 seconds on average, by our arithmetic: 3 hours 45 minutes divided by 160 items.
Is there a penalty for guessing on the Series 24?
No. The content outline says there is no penalty for guessing, so FINRA advises answering every item.
Which topics have the most Series 24 questions?
Function 2, supervision of general broker-dealer activities, has 45 of the 150 scored items. Functions 3, 4 and 5 have 32 each, and Function 1 has 9.
What practice score should I aim for?
The FINRA pages listed under Sources set no practice-test target, and a practice percentage is not the scaled score of 70. Use it to find weak job functions and outline tasks.
Sources
- official — FINRA — Series 24: General Securities Principal Exam page ("At A Glance": 150 items, multiple choice, 3 hours and 45 minutes, passing score 70, corequisites, cost $235; items per job function; corequisite exams and the principal registrations they lead to; eligibility and sponsorship; permitted activities)
- official — FINRA — Series 24 Content Outline, (c) 2023 (150 scored + 10 unscored pretest items = 160; no penalty for guessing; passing score 70%; equating; no reference materials; the five job functions and their tasks) (PDF)
- official — FINRA — Weekly update archive entry 10012025, "Pretest Questions to be Reduced for Key Securities Exams": from 27 October 2025, five unscored questions instead of 10 on the SIE, Series 7 and Series 79 (the Series 24 is not named)
- official — FINRA Rule 3110 (Supervision), paragraph (e): written procedures reasonably designed to verify an initial or transfer Form U4 within 30 calendar days (sample question 1)
- official — SEC Rule 15l-1 (Regulation Best Interest), 17 CFR 240.15l-1: the conflict-of-interest obligation on sales contests (sample question 2)
- official — SEC Regulation SHO Rule 200, 17 CFR 242.200, paragraph (g): marking sell orders long, short or short exempt (sample question 3)
official = a document published by the conducting body. reported = a news or coaching site we could not check against an original. Where sources disagree this page says so rather than picking one.




