Series 24 - Cheat Sheet COMPLETE EXAM Questions and Answers (Verified
Answers) (Latest Update 2026) UPDATE!!
after notice by FINRA, how long do members have to pay fees? - (ANSWER)21 days
how much notice needs to be give to FINRA before a material change to a firm? - (ANSWER)30 days
how long after statutory dq'ing event must you report an associated person to FINRA? - (ANSWER)do it
promptly, no longer than 30 days
what are two ways to be DQ'd by FINRA? - (ANSWER)convicted of money/securities misdemeanor, or any
felony within past 10 years
how often must the firm element of continuing ed be completed? - (ANSWER)annually
when must regulatory element of continuing ed be completed? - (ANSWER)within 120 days of second
registration anniversary and every 3 years after
what can active military service do? - (ANSWER)receive commissions on book, 2 year expiration clock
rolled, must reactivate within 90 days of return
what can active military service not do? - (ANSWER)no form U5 necessary, cannot perform as RR, CE
requirement suspended
what is FINRA rule 3110? - (ANSWER)how often inspections must occur
how often must OSJ and supervising branches be inspected? - (ANSWER)annually
how often must non supervising branches be inspected? - (ANSWER)every three years
what is FINRA rule 3120? - (ANSWER)principals must submit to management annually a report detailing
system of supervisory controls
, Series 24 - Cheat Sheet COMPLETE EXAM Questions and Answers (Verified
Answers) (Latest Update 2026) UPDATE!!
what two things does FINRA rule 3130 do? - (ANSWER)CEO must certify annually that firm has proper
supervisory procedures in place; firm must designate chief compliance officer
what does FINRA rule 4370 state? - (ANSWER)business continuity plans must be disclosed to customers
on account opening; firms must designate two associated persons as emergency contacts; changes to
contact info must be updated promptly
how long do you have to amend a form U4? - (ANSWER)30 days
how do you amend a form U4? - (ANSWER)with DRPs (new needs reps signature)
how long to file a form U5? - (ANSWER)within 30 days of employee termination?
who does U5 go to? - (ANSWER)both FINRA and terminated employee
who provides U5 copy to new firm? - (ANSWER)employee (2 days) or FINRA
who needs to be at each OSJ? - (ANSWER)at least one principal
what is kept at OSJ? - (ANSWER)customer records including complaints
how often is compliance meeting required for RRs and principals? - (ANSWER)annually
if you have to record calls, how long after FINRA notification to set up? - (ANSWER)60 days
what do private securities transactions require? - (ANSWER)written notice to member firm and written
permission from member?
Answers) (Latest Update 2026) UPDATE!!
after notice by FINRA, how long do members have to pay fees? - (ANSWER)21 days
how much notice needs to be give to FINRA before a material change to a firm? - (ANSWER)30 days
how long after statutory dq'ing event must you report an associated person to FINRA? - (ANSWER)do it
promptly, no longer than 30 days
what are two ways to be DQ'd by FINRA? - (ANSWER)convicted of money/securities misdemeanor, or any
felony within past 10 years
how often must the firm element of continuing ed be completed? - (ANSWER)annually
when must regulatory element of continuing ed be completed? - (ANSWER)within 120 days of second
registration anniversary and every 3 years after
what can active military service do? - (ANSWER)receive commissions on book, 2 year expiration clock
rolled, must reactivate within 90 days of return
what can active military service not do? - (ANSWER)no form U5 necessary, cannot perform as RR, CE
requirement suspended
what is FINRA rule 3110? - (ANSWER)how often inspections must occur
how often must OSJ and supervising branches be inspected? - (ANSWER)annually
how often must non supervising branches be inspected? - (ANSWER)every three years
what is FINRA rule 3120? - (ANSWER)principals must submit to management annually a report detailing
system of supervisory controls
, Series 24 - Cheat Sheet COMPLETE EXAM Questions and Answers (Verified
Answers) (Latest Update 2026) UPDATE!!
what two things does FINRA rule 3130 do? - (ANSWER)CEO must certify annually that firm has proper
supervisory procedures in place; firm must designate chief compliance officer
what does FINRA rule 4370 state? - (ANSWER)business continuity plans must be disclosed to customers
on account opening; firms must designate two associated persons as emergency contacts; changes to
contact info must be updated promptly
how long do you have to amend a form U4? - (ANSWER)30 days
how do you amend a form U4? - (ANSWER)with DRPs (new needs reps signature)
how long to file a form U5? - (ANSWER)within 30 days of employee termination?
who does U5 go to? - (ANSWER)both FINRA and terminated employee
who provides U5 copy to new firm? - (ANSWER)employee (2 days) or FINRA
who needs to be at each OSJ? - (ANSWER)at least one principal
what is kept at OSJ? - (ANSWER)customer records including complaints
how often is compliance meeting required for RRs and principals? - (ANSWER)annually
if you have to record calls, how long after FINRA notification to set up? - (ANSWER)60 days
what do private securities transactions require? - (ANSWER)written notice to member firm and written
permission from member?
