Supervisory Principal Licenses
A general securities principal supervises a FINRA member firm's securities activities. The principal registration builds on a representative-level one.
- SIE
- Series 7Needs a firm
- Series 24Needs a firm
SIE
Securities Industry Essentials (SIE) Exam
Required for the representative-level registrations that come first.
- Passing score
- 70
- Number of questions
- 80items presented (75 scored, 5 unscored pretest); only the 75 scored items count toward the candidate's result
- Time
- 1 hour 45 minutes
Level
Entry-level / introductory
Format
80 total multiple-choice items (75 scored + 5 unidentified, unscored pretest items randomly distributed throughout), 4 answer choices each, 1 hour 45 minutes (105 minutes), computer-administered, no penalty for guessing
Prerequisites
None. Open to anyone age 18 or older; no association or sponsorship with a FINRA member firm is required to sit for the exam
Who it's for
Anyone 18 or older, including students and career-changers, who wants to demonstrate baseline securities-industry knowledge to prospective employers. It is also a co-requisite for industry professionals: passing the SIE alone does not qualify someone for registration, but it must be paired with a specialized representative-level exam (e.g., Series 6 and 7) once sponsored by a member firm to become fully registered.
Series 7
General Securities Representative Qualification Examination (Series 7)
One of the representative-level exams FINRA accepts alongside the Series 24; the Series 57, 79, 82 and the Series 86 and 87 pair are others, and the Series 16 is an alternative for research principals.
- Passing score
- 72%
- Number of questions
- 125scored questions (135 delivered, including 10 unscored pretest items)
- Time
- 3 hours 45 minutes
Level
Registered representative (entry-level)
Format
125 scored multiple-choice questions (4 answer choices each), delivered by computer with 10 additional unscored pretest items randomly distributed (135 items total); 3 hours 45 minutes
Prerequisites
Must pass the Securities Industry Essentials (SIE) exam as a co-requisite, and be sponsored by a FINRA member firm (or other applicable SRO member firm) to sit for the Series 7.
Who it's for
Entry-level candidates seeking registration as general securities representatives who will sell corporate securities, municipal securities, investment company products, variable annuities, options, direct participation programs, and government securities to customers.
Series 24
General Securities Principal Qualification Examination (Series 24)
Needs association with and sponsorship by a FINRA member firm. The general securities principal qualification does not cover municipal securities or options.
- Passing score
- 70%
- Number of questions
- 150scored items (exam delivers 160 total items per candidate: 150 scored + 10 unscored/unidentified pretest items)
- Time
- 3 hours 45 minutes
Level
Principal/supervisory registration (entry-level General Securities Principal; requires a corequisite representative-level registration)
Format
150 scored multiple-choice questions (plus 10 unscored pretest items randomly mixed in, for 160 total delivered), 3 hours 45 minutes, computer-administered
Prerequisites
Candidate must be associated with and sponsored by a FINRA member firm (or other applicable SRO member firm). In addition to the Series 24, candidates must pass the Securities Industry Essentials (SIE) exam and a representative-level qualification exam (Series 7, 57, 79 or 82, or the Series 86 and 87 pair), or the Series 16 Supervisory Analysts exam, to hold an appropriate principal registration. The principal registration granted depends on the corequisite exam: Series 7 for General Securities Principal, Series 57 for Securities Trader Principal, Series 79 for Investment Banking Principal, Series 82 for Private Securities Offerings Principal, and Series 86 and 87 or Series 16 for Research Principal.
Who it's for
Candidates seeking a principal registration at a FINRA member firm. The general securities principal qualification does not cover municipal securities or options.
Side by side
| Fact | SIE | Series 7 | Series 24 |
|---|---|---|---|
| Questions | 80 items presented (75 scored, 5 unscored pretest); only the 75 scored items count toward the candidate's result | 125 scored questions (135 delivered, including 10 unscored pretest items) | 150 scored items (exam delivers 160 total items per candidate: 150 scored + 10 unscored/unidentified pretest items) |
| Duration | 1 hour 45 minutes | 3 hours 45 minutes | 3 hours 45 minutes |
| Passing score | 70 | 72% | 70% |
| Prerequisites and sponsorship | None. Open to anyone age 18 or older; no association or sponsorship with a FINRA member firm is required to sit for the exam | Must pass the Securities Industry Essentials (SIE) exam as a co-requisite, and be sponsored by a FINRA member firm (or other applicable SRO member firm) to sit for the Series 7. | Candidate must be associated with and sponsored by a FINRA member firm (or other applicable SRO member firm). In addition to the Series 24, candidates must pass the Securities Industry Essentials (SIE) exam and a representative-level qualification exam (Series 7, 57, 79 or 82, or the Series 86 and 87 pair), or the Series 16 Supervisory Analysts exam, to hold an appropriate principal registration. The principal registration granted depends on the corequisite exam: Series 7 for General Securities Principal, Series 57 for Securities Trader Principal, Series 79 for Investment Banking Principal, Series 82 for Private Securities Offerings Principal, and Series 86 and 87 or Series 16 for Research Principal. |
If you already hold
| If you already hold | Still to take |
|---|---|
| Nothing yet | |
| SIE | |
| Series 7 | |
| Series 65 or 66 | |
| Something else |
- Whether your Series 7 already satisfies the SIE co-requisite on your record.
- FINRA lists the Series 7, 57, 79, 82, or the Series 86 and 87 pair (or the Series 16) as the co-requisites for the Series 24. The Series 65 and 66 are not on that list.
- Whether the license or designation you hold changes this list. Your firm or state regulator decides what it counts for.
Compare these exams
Considering a career as an advisor?
Advisor Train is brought to you by Parsonex, a wealth-management firm. See what building your practice with us looks like.