Series 24 Domain 1: Supervision of Registration of the Broker-Dealer and Personnel Management Activities Welcome to your Series 24 Domain 1: Supervision of Registration of the Broker-Dealer and Personnel Management Activities 1. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities What is the required procedure if a registered representative wants to change their registration from one broker-dealer to another? The representative must cease all sales activities until the transfer is complete. The representative can continue sales at both broker-dealers until the transfer is approved. The representative must first deregister with FINRA before applying for new registration. The representative's new broker-dealer must file a Form U4 amendment with FINRA. None 2. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities Under FINRA rules, which of the following personnel must be fingerprinted when they are hired by a broker-dealer? Only those involved in sales. Any employee with access to cash or securities. Only the compliance and legal staff. Only registered representatives. None 3. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities What action must a broker-dealer take when a registered representative is subject to statutory disqualification? They must promote the individual to a non-customer facing role. They must terminate the individual's registration immediately. They must file a Form U5 within 30 days. They must sponsor the individual for requalification by examination. None 4. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities How often must a Broker-Dealer conduct a continuing education Regulatory Element program for registered persons? Biennially Annually Once every three years Monthly None 5. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities Which document must a broker-dealer update when there is a change in the supervisory structure? Written Supervisory Procedures (WSPs) The Business Continuity Plan Form BD Form U5 None 6. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities A broker-dealer must verify the accuracy of the information on a registered representative's Form U4 within how many days of filing? 10 days 30 days 15 days 20 days None 7. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities What is the primary purpose of conducting an annual compliance meeting for registered representatives? To discuss sales targets and financial goals. To ensure representatives are updated on regulatory changes and firm policies. To evaluate the financial performance of the firm. To plan strategic marketing initiatives. None 8. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities When must a broker-dealer notify FINRA about the hiring of a new Chief Compliance Officer (CCO)? Within 10 days of employment At the end of the fiscal year Within 30 days of the hiring date Immediately upon hiring None 9. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities Which of the following is NOT a requirement for the registration of a new branch office of a broker-dealer? Notification of local authorities Registration with FINRA Filing of Form BR Approval from state securities regulators None 10. Series 24: Supervision of Registration of the Broker-Dealer and Personnel Management Activities What is the consequence for a broker-dealer that fails to supervise the activities of its registered representatives adequately? Mandatory retraining of all staff Public censure only Fines and potential suspension A warning letter from FINRA None 1 out of 10 Time is Up! Time's up
