Series 24 - Cheat Sheet EXAM 2025
QUESTIONS AND ANSWERS
After notice by FINRA, how long do members have to pay fees? - ANS 21 days
how much notice needs to be give to FINRA before a material change to a firm? - ANS 30
days
how long after statutory dq'ing event must you report an associated person to FINRA? -
ANS do it promptly, no longer than 30 days
what are two ways to be DQ'd by FINRA? - ANS convicted of money/securities misdemeanor,
or any felony within past 10 years
how often must the firm element of continuing ed be completed? - ANS annually
when must regulatory element of continuing ed be completed? - ANS within 120 days of
second registration anniversary and every 3 years after
what can active military service do? - ANS receive commissions on book, 2 year expiration
clock rolled, must reactivate within 90 days of return
what can active military service not do? - ANS no form U5 necessary, cannot perform as RR,
CE requirement suspended
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@COPYRIGHT BRAINBARTER 2025/2026
, what is FINRA rule 3110? - ANS how often inspections must occur
how often must OSJ and supervising branches be inspected? - ANS annually
how often must non supervising branches be inspected? - ANS every three years
what is FINRA rule 3120? - ANS principals must submit to management annually a report
detailing system of supervisory controls
what two things does FINRA rule 3130 do? - ANS CEO must certify annually that firm has
proper supervisory procedures in place; firm must designate chief compliance officer
what does FINRA rule 4370 state? - ANS 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? - ANS 30 days
how do you amend a form U4? - ANS with DRPs (new needs reps signature)
how long to file a form U5? - ANS within 30 days of employee termination?
who does U5 go to? - ANS both FINRA and terminated employee
who provides U5 copy to new firm? - ANS employee (2 days) or FINRA
who needs to be at each OSJ? - ANS at least one principal
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what is kept at OSJ? - ANS customer records including complaints
@COPYRIGHT BRAINBARTER 2025/2026
QUESTIONS AND ANSWERS
After notice by FINRA, how long do members have to pay fees? - ANS 21 days
how much notice needs to be give to FINRA before a material change to a firm? - ANS 30
days
how long after statutory dq'ing event must you report an associated person to FINRA? -
ANS do it promptly, no longer than 30 days
what are two ways to be DQ'd by FINRA? - ANS convicted of money/securities misdemeanor,
or any felony within past 10 years
how often must the firm element of continuing ed be completed? - ANS annually
when must regulatory element of continuing ed be completed? - ANS within 120 days of
second registration anniversary and every 3 years after
what can active military service do? - ANS receive commissions on book, 2 year expiration
clock rolled, must reactivate within 90 days of return
what can active military service not do? - ANS no form U5 necessary, cannot perform as RR,
CE requirement suspended
1
Page
@COPYRIGHT BRAINBARTER 2025/2026
, what is FINRA rule 3110? - ANS how often inspections must occur
how often must OSJ and supervising branches be inspected? - ANS annually
how often must non supervising branches be inspected? - ANS every three years
what is FINRA rule 3120? - ANS principals must submit to management annually a report
detailing system of supervisory controls
what two things does FINRA rule 3130 do? - ANS CEO must certify annually that firm has
proper supervisory procedures in place; firm must designate chief compliance officer
what does FINRA rule 4370 state? - ANS 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? - ANS 30 days
how do you amend a form U4? - ANS with DRPs (new needs reps signature)
how long to file a form U5? - ANS within 30 days of employee termination?
who does U5 go to? - ANS both FINRA and terminated employee
who provides U5 copy to new firm? - ANS employee (2 days) or FINRA
who needs to be at each OSJ? - ANS at least one principal
2
Page
what is kept at OSJ? - ANS customer records including complaints
@COPYRIGHT BRAINBARTER 2025/2026
