Series 24 Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) Form NMA - Correct Answers ✅Opens 180 day window for new application for b/d registration Finra responsibilities - Correct Answers ✅Obl/authority interpret rules, fees, compliance issues, disputes, CRD, education Form BD - Correct Answers ✅form used by B/D to register with SEC, SRO's. Must be updated within 30 days when out of date.Form CMA - Correct Answers ✅must be filed electronically when there is a change in ownership or control.Finra regulates which securities? - Correct Answers ✅OTC nonexempt securities Nasdaq rule 1014 - Correct Answers ✅org chart, business plan, supervisory systems, financial projections, record keeping When are DBA's acceptable? - Correct Answers ✅acceptable if filed with finra and commission 1 / 4
Series 24 Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) Each B/D must have a min of how many principals register (except for Sole proprietors)? - Correct Answers ✅2 principals (min) DMR ( Dept of Member Registration) process/responsibilities?
- Correct Answers ✅review applicants capital, scope of
business harmony with public interest and protection of investors.DMR issues a written decision within how many days of the pre-membership interview? - Correct Answers ✅30 days (grant the application, deny it, grant with restrictions) Finra requires how many resident principals for Office of Supervisory Jurisdiction? - Correct Answers ✅1 resident principal What is statutory disqualification? - Correct Answers ✅disciplinary actions in the last 10 years by SEC.What is form MC400? - Correct Answers ✅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. 2 / 4
Series 24 Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) What is the fee paid by firms to employee statutory disqualified employees (if approved by finra)? - Correct Answers ✅$1500 annually Tier 1 $1000 annually Tier 2 If Finra bars or suspends a Associated Person, member firms cannot - Correct Answers ✅employee these people in any capacity What is rule 9522? - Correct Answers ✅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 - Correct Answers ✅must report within 30 calendar days.What is Form BDW used for ? - Correct Answers ✅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? - Correct Answers ✅15 days 3 / 4
Series 24 Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) When is a principal required? - Correct Answers ✅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? - Correct Answers ✅10 business days How many years of employment do principals need check before signing U-4? - Correct Answers ✅3 years Finger printing - Correct Answers ✅3 attempts summer interns do not need finger printing non- registered persons - outside bookkeeping vendors U-5 - Correct Answers ✅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 - Correct Answers ✅120 days after 2nd registration anniversary and every 3 years
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