Supervisor Qualifications and Prerequisites

People who supervise or train agents generally must register as a principal with FINRA and qualify by training or experience. Prior to taking a principal exam, the individual must have successfully completed the appropriate registered representative examination. Once appointed as a principal of a firm an individual has 90 days to pass the appropriate principal exam. A principal of a FINRA member firm will usually take the General Securities Principal exam known as the series 24 while a principal of an NYSE member firm will take the General Securities Sales Supervisor exams known as the series 9 and 10 exams. Series 9/10 General Securities Sales Supervisors and Series 24 general securities principals may manage or supervise the firm’s corporate securities business, including investment banking, direct participation programs, investment company products, and variable contracts. A Series 9 and 10 or Series 24 does not qualify an individual as a:

  • Registered Options Principal
  • Municipal Securities Principal
  • Financial and Operations Principal
  • Introducing Broker/Dealer Financial and Operations Principal

All portions of FINRA administered exams are proprietary and to be held in the strictest of confidence. FINRA considers it a violation of its rules for any individual to:

  • Disclose exam questions or content to anyone
  • Reproduce exam questions
  • Receive exam questions or content from anyone
  • Compromise the content of any exam
  • Remove any portion of an exam from the exam location

TAKE NOTE!

A series 9/10 General Securities Sales Supervisor is not qualified to supervise a member firm’s trading or investment banking operations

 

CONTINUING EDUCATION

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