Series 24 Quicksheet
what is the 'grace period' for fees being paid to FINRA? - correct answer ✔✔21 days until membership
revoked or suspended
how long do you need to notify FINRA before making a material change to the firm? - correct answer
✔✔30 days
how long do you have to report an AP having a statutory disqualifying event? - correct answer
✔✔promptly to FINRA, no more than 30 days
what leads to statutory DQ from FINRA? - correct answer ✔✔convicted of money/securities
misdemeanor or any felony within past 10 years
how often must firm element of Continuing Education be completed for FINRA? - correct answer
✔✔annually
how often must the regulatory element of FINRA continuing ed be completed? - correct answer
✔✔within 120 days of second registration anniversary, and every 3 years after
what is FINRA rule 3110? - correct answer ✔✔office of supervisory jurisdiction (OSJ) and supervising
branches inspected annually; non supervisory branches inspected at least once every three years
what is FINRA rule 3120? - correct answer ✔✔designated principles must submit to the member's senior
management annually a report detailing system of supervisory controls, summary of test results,
significant identified exceptions
FINRA rule 3130 - correct answer ✔✔CEO must certify annually that firm has proper supervisory
procedures in place; firm must designate chief compliance officer
what is the 'grace period' for fees being paid to FINRA? - correct answer ✔✔21 days until membership
revoked or suspended
how long do you need to notify FINRA before making a material change to the firm? - correct answer
✔✔30 days
how long do you have to report an AP having a statutory disqualifying event? - correct answer
✔✔promptly to FINRA, no more than 30 days
what leads to statutory DQ from FINRA? - correct answer ✔✔convicted of money/securities
misdemeanor or any felony within past 10 years
how often must firm element of Continuing Education be completed for FINRA? - correct answer
✔✔annually
how often must the regulatory element of FINRA continuing ed be completed? - correct answer
✔✔within 120 days of second registration anniversary, and every 3 years after
what is FINRA rule 3110? - correct answer ✔✔office of supervisory jurisdiction (OSJ) and supervising
branches inspected annually; non supervisory branches inspected at least once every three years
what is FINRA rule 3120? - correct answer ✔✔designated principles must submit to the member's senior
management annually a report detailing system of supervisory controls, summary of test results,
significant identified exceptions
FINRA rule 3130 - correct answer ✔✔CEO must certify annually that firm has proper supervisory
procedures in place; firm must designate chief compliance officer
