Anyone recently get their Series 24?
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I actually found the 24 to be more difficult than the 7. I knew the study material cold and was amazed at the amount of questions I saw that I had never seen in my life. I failed the first attempt with a 69 and passed the second with a 70.
I got it two years ago and studied like crazy. Got a 82 and didn’t recognize one question. Very confusing test. Still don’t know how I scored that high. I figured I had made a 50.
I had to get mine to avoid an OSJ taking some of my payout. (this was a few ears back). The test is all memorization about rules that seem to not apply to 95% of what we do. I used Dearborn. Scored in the mid 90s on all the practice exams and scored a 72 on the test. Tough test (or my brain is getting too old)
For those of you who supervise other brokers, what’s a “typical” override? Thanks.
Thanks Ice,
I think I’ve got a good handle on different override grids. What I’m looking for is how much of a typical override goes to the person who is acting as your OSJ? I’m in a situation where I’m about to get my 24 and start supervising other brokers. I’m in the midst of negotiating my compensation and it will likely consist of just an override component (i.e., no salary).
I’ve searched to the ends of Google with no luck finding any data points.
Passed the series 24 today with a score of 72% !!! I used the Kaplan material and memorized as much as I could. Maybe it’s just me, but I thought the test was hard and I’m glad to be done with it because I’m pretty sure a bunch of it doesn’t apply because of computer automation. You have to know quite a bit about market making and FINRA and SEC regulations. I’m just glad now I don’t have to give anyone part of my commissions for supervison. Say Hello to a continued 90% payout!!! Man I love being Indy.
I passed with a 70 last week. I used the Kaplan materials too. I thought it was a difficult test and I am glad that I read this thread so that I had an idea of what to expect. It started very easy, became impossible, and ended with easy questions. I studied a lot and was happy to pass but I can see how many people will not pass the first time.
Good job LeavingML!! I know it’s a huge relief.
On a side note, after I informed my contact and temporary Home Office Supervision Support person, she told me that less than half of the advisors whom she supervises had been passing the test in the last 6 months. She told me that she waited to tell me that until after I had taken the test so I wouldn't get discouraged. She had also heard similar pass rates for all of her associates in the home office. I'm sure FINRA keeps track of the pass rates, does anyone know where they publish them?? When I first started in the industry approximately 6 years ago, I heard or read (don't remember which) that the pass rate on the series 7 test was approximately 60%. Can anyone verify that? Thanks, LapideMy contact gave me the heads up about how many people were failing and also told me that people were having more success with RegEd than Kaplan.
[quote=iceco1d]
At the conclusion of the S7, it gives you your score, the national average, and the percent of people that passed the test that year, nationwide.
I took the S7 in 2007 - the national average was a 71%, and the pass rate was 65%.
[/quote] I took the S7 in 2008 - the national average score was 73%, and the pass rate was 66%, in the six month period ending in February. I looked at my S24 and S66, but they did not have this information.
I guess they must not publish the result of the supervisory test like the 24 because I haven’t been able to find the results anywhere, and the only info I can go off is the pass rate my Home Office Supervision contact gave me, which was slightly less than 50%.
Really? I thought the 24 was worse. The 24 was a lot more memorization, where the 66 was more weird legal common sense.
I took the test today and got a 68. I used Kaplan or pass perfect as it is now called. I took the 10 practice exams over and over again was scoring 98's on all of them. I knew their material inside and out. I put in around 100+ hrs of studying and still could not pass. The questions on the actual exam were nothing like the practice tests except for maybe 20 questions. 20 out of 155 is not sufficient. I was laughing at some of them thinking to myself i have no idea what they are asking me. Anyway does anyone have advice because I read the material inside and out and was certain i would do pretty well on the real thing. I appreciate it.
I am about to take the 24 again after failing with a 60 the first time around in June 2009. I got the new STC material, and have started cramming. Anyone suggest how long to study for? Number of hours of material coverage and practice exams suggested? I have to pass it this time. I breezed through the 7, 66, 86 and 87, but recall this one causing me no end of trouble the last go-round. Did anyone figure out where STC falls short versus the exam - that seemed to be the consensus in another thread, but isn’t really helpful unless I can find out what supplemental readings I’ll need to do. Thanks for the help!
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