I just took my series 24 for the second time and got a 68, 2 points short of passing. Man!!! Anybody knows what the passing rate of series 24 is?
Ok, I'm glad I'm not the only one. The 24 is the most ridiculous exam I've ever taken. Maybe it's just that they're changing a lot of things right now, but I assure you I only passed based on luck (70% even). What book did you use? I had the 3rd edition of the Kaplan, and then proceeded to take the "4th" edition test. 67%. I then got the 4th edition book, studied all month, and passed with a 70% (all the while I just knew I was going to fail again, and that everything I had studied still had almost nothing to do with the actual exam). For the record, I was scoring high 80's low 90s on the Kaplan's practice CD...the actual test was like nothing I studied for.
I used Kaplan and scored similarly on the test (80). I don't think the material is that hard...just dry as sawdust. I prepared for the 24 as little as I did for any securities test...I doubt I had 100 hours total in it.
i don't have any hard stats on the pass/fail rate for the Series 24, but I just took it this past Tuesday (and passed, with a scored of 77), and the lady at the testing center said that "most" people fail the exam. I would take that to mean over half, but please remember that that is hardly an official tally. My score sheet did not detail the average score and pass/fail rate, like it did for my Series 7. I believe that if you can pass the Series 7, you can pass the Series 24. You just have to be ready for a lot of questions that there did not seem to be an prep for. I will suggest this: two of the answers on all of the "crazy questions" are always obviously wrong, so eliminate them. Then, when choosing between the two remaining, please note that the incorrect answer often contained a fact that caught your attention, but did not answer the question. Avoid what has been called the "fact trap." Also, consider this: which of the two answers are better for the customer, and "which one would I want if I were the customer?!" Keep these in mind, and you will probably pass the exam the next time.
Does anyone have the STC Series 24 full package, including the on demand lectures and the book.with cd rom tests? Looking to get a deal. The Series 7 exam, IMHo showed me that STC far out did Kaplan and Empire more specifically. I only want THEIR study material for any securities training.If anyone passed the 24 recently and used their stuff email me and give me your best deal.LoEG
I just took the Series 24 for the second time, and I got a 67%; the first time I took it I got a 69%. I prepared by using STC, and I read the materials twice and took all seven simulation exams twice. When I took the sample tests, I was scoring in the low 80s, so I was shocked when I got a 67 on the real test. So I called STC, and I asked how they explained my experience. He told me that I had learned the test and not the materials. There was about a month between the first and second time that I took the simulation exam, so I didn't think that was the reason and even if it was, it wasn't a solution for me to pass the test. I reported that there were many questions that I did not recognize at all when I took the second exam, questions that referred to material that I did not recall as being in any of the readings. He told me that everything on the FINRA outline for the test was on the training manual. So I googled FINRA and easily found the outline of the series 24 exam. There is a material on the FINRA outline which is NOT included in any of the training materials which goes to explain (1) why I did not recognize some of the materials at all and (2) why I would get a 67 when I was scoring 80s in the sample tests. The STC spokesperson (Mike Houser) told me that there are sample questions, and these questions may come from material which is not on the training materials. There are five experimental questions according to FINRA, and I didn't recognize about 20 or 25 questions, where I guessed without being able to eliminate any of the choices, so I didn't think that this explained what I experienced. It is difficult to say precisely how many questions I did not recognize, because I wasn't keeping track: I focused on answering the questions and passing the test. But if there were 20 questions, that means that if I answered every question in the sample tests correctly, I would get an 87 on the test. If There were 20 questions that were not covered in the training session, and I got 82% of the questions in the training material, I would have passed with a 71%. If there were 25 instead of 20 questions which weren't on the test, 17%, then I would fail with an 69% given an 82% correct reponse rate on my part.How much material is excluded from the training materials that is on the test? difficult to say. The STC material has its own order which is different from the FINRA outline. STC says that they are trying to place the material in a way that makes it easier to follow. Maybe. The FINRA material has logic in the outline. An alternative explanation could be that they don't want to make it easy for us to see that they didn't cover all the material on the test in the test preparation materials. Soccerguy seems to have found questions that weren't in his prep book, what percentage would you say were new to you? What materials did you use?Does the Kaplan follow the FINRA outline? If you don't know what that is, then look at your exam results. Those are the FINRA categories. A possible solution for me is to buy a second set of study materials. That's not a cheap solution. The FINRA outline has a list of the primary sources from which the test questions originate, but finding the passeges that apply to the missing material is a long process. A team studying for the test could do it, but it is too much for a single person to do it.I still have not decided whether to try this exam for a third time. I worked so hard on it the second time, I am not sure what I can do to change the result. I would appreciate your thoughts.
I totally agree with Vero. Did the exam today (68%) and some questions were just ridiculous. Even remembering the questions at home I still don’t know the answer with the stc material next to me.As vero stated at least 20 questions were not related to anything in the STC manual. Does anybody know how they make the manual?I’d like to get some better study material then this STC crap cause unfortunately not passing this exam is not an option for me.
I have spoken to two people who passed the test since I wrote my post, and I asked them what percentage of the questions they did not recognize, and they also agreed with me at that it was at least 20-25 questions. Vgaal, check out the FINRA outline, but it doesn't really help. The topics are there, but not the answers. It will take months to dig through all the primary sources.I had an interesting experience. The first time I took it, I got a 69%, although I never got a 70 in the 5 simulation exams of STC (I never even took the last two). Because I knew that, I guessed at all the questions that I didn't know. I had a MASSIVE headache while taking the test. I also used up every minute for the test.On the second round with the test I had no headache, I had about 1.25 hrs left, and I had taken the two supplementary exams of STC, I had taken 3 or 4 of the topic exams of >100 each on the areas in which I was testing as weak, I retook all the five sample tests again, and I was scoring an 85% in the sample tests. My final score was a 67%. I did worse.So, here are my conclusions. The test starts easy, gets ridiculous at about question 105, then it gets easy again at the end. In the last quarter of the test I encountered questions of which I know nothing, because they were not in the training materials. These questions are like being in pitch darkness, and you need to find the door that gets you the hell out of there. Someone on this board said that in 2007 the mean score was 71. I believe it. Someone else said that FINRA made the test more difficult recently, because of the number of people moving out of the wire houses. This may be true, because the compliance officers of my B/D says they have seen lots of people failing the tests recently, more than normal. Small sample, but it could be true. The point is that we all know that we seem to get stuck very close to the pass score.You can't memorize your way through this test. It's a combo of guessing and memorization. The trick to passing the test seems to be in finding a good balance between those two and not falling for their tricks.
I took it a couple of years ago. And the test was as clear as mud then. But I remember telling someone in the office that they would have to start closing the gate. Just as you say the sheer number of reps leaving the wirehouses the FINRA just cannot over see all the offices.
I think that we deserve to know more about the test, because it affects our livelihood, and all information is restricted. What is the mean passing score, the standard deviation, and has the test been recalibrated? Why should everything be under a cloak of silence? Why should this exam be different from any other exam?
I agree about the STC material. It did not prepare me for the exam. I got lucky and passed with a 75. I would not give STC credit for it! With that being said....I will gladly sell you my STC study guide.
I also took the exam and failed with a 67% and 65% the second time. I knew the STC material front and back. I called and spoke to STC but they weren't very helpful. I even took the class. Im thinking about using Kaplan's books next time.
Don't give up on it. Use Kaplan. I used STC the first time and got a 69. I then printed out the outline from FINRA and went over STC again and got a 68. I then used Kaplan's sample tests. They cover such a wider range of scenarios than Kaplan does. Even though I barely passed with a 72, I feel using Kaplan, STC, and knowing the basics of the outline will push you over the edge. Also remember that you are not getting the same test every time you take it. The first two tests, I did not have any math type problems and the third time, I had about six or seven problems which dealt with Avg Trading Volume, etc. Maybe you'll get a slightly easier test next time.
I spoke to my licensing department and they mentioned the material has changed dramtically and their vendors (STC and Training Consultants) were in the midst of a massive update. They are moving everyone to Training Consultants as the pass rate is much higher. I have great results with their 7 & 66 material. They have not finished the online lectures for the 24 but I have the book and the online tests. Taking it on oct 1. Wish me luck.
@ DukeH Good luck. Let me know what materials you are using. Im using STC ver. 41
I have taken the Series 24 twice, scored a 64 and 65. I used the STC interactive training materials. I have taken every exam they offer, every quiz in the training manual, took diligent notes and made flashcards. I know the material in that book really well. I have scored above 85 on ALL practice exams. Problem is there were 21 ?s that I have never ever heard of. These weren't ?s I just couldn't get straight, they were ?s I've never heard of in my 13 years in the business. I can't even find the answers or subject material in my books and I'm searching thru Finra's site trying to find answers. From what I've read the Kaplan and STC materials are awful. What should I use? How about the video training programs. I am going to have to order and pay for new study materials or I will never pass this test. It was 13 years ago I scored an 90 on my Series 7 and may not have studied as hard as I did for this test. HELP!!!
I'm not sure about the Kaplan study materials but their practice tests for the 24 threw questions at me that I never saw on the STC practice tests. You should probably take as many different tests as you can because I felt the STC exams kept the topics in a narrower range than the Kaplan tests. The Kaplan tests force you to look at more aspects of a question which was very helpful when I took my 24 for the third time. If you can, get as many different tests from different companies that you can because it's real frustrating when you see ?'s which you never even seen before. GL, Keep trying and you'll pass... melg915 wrote:I have taken the Series 24 twice, scored a 64 and 65. I used the STC interactive training materials. I have taken every exam they offer, every quiz in the training manual, took diligent notes and made flashcards. I know the material in that book really well. I have scored above 85 on ALL practice exams. Problem is there were 21 ?s that I have never ever heard of. These weren't ?s I just couldn't get straight, they were ?s I've never heard of in my 13 years in the business. I can't even find the answers or subject material in my books and I'm searching thru Finra's site trying to find answers. From what I've read the Kaplan and STC materials are awful. What should I use? How about the video training programs. I am going to have to order and pay for new study materials or I will never pass this test. It was 13 years ago I scored an 90 on my Series 7 and may not have studied as hard as I did for this test. HELP!!!
My experience was very similar to those above. Although I only studied intensively for about a week and for a combined total of around 30 hours, I scored a 66% (I was able, during the test, to predict my score within 1%)I used the Kaplan study materials, but mostly used the questions and reviewed them (I took just over 1000 questions.) And like everyone else, there were like ~25 questions unlike any question I had seen in the practice questions, and another ~40 which I did not know the answer to. (I assumed I answered 25% of these 65 questions correctly)Note: Using Kaplan 5th edition (even though ordered in June 2011.)What bothered me most were the question(s) regarding confirms. I remembered reading this section in the book, but was unable to confidently answer it(them.) When I got home and looked at the book, I still couldn't answer it(them.) So today, I went and looked up Rule 10b-10. It is an eight page rule (opposed to 8 bullet points in the study book) and it has all the information I needed to answer that(those) question(s).To give you an idea of just how bad the section on confirms was compared to Rule 10b-10:* The Security's Identity* Price* Number of Shares (or Principal Amount)None of the above are listed in the Confirmation section of the Kaplan 5th edition book, yet they are all listed in the second paragraph of rule 10b-10. After reading rule 10b-10 I now feel confident I can answer any confirmation question that could be on the exam.I also intend to search for and read every rule listed in any of the materials (the materials alone are not enough.)
Thanks for the advise. I'm taking the test next month and need all the help I can get
Just took it today and failed with 69.33. Yes one question off. Unlike the other tests I've taken (6,63,22,62,65; don't ask) I actually felt pretty comfortable as I worked through the test. Obviously I was wrong to feel so. There was definitely material covered that I didn't recognize but that seemed to be the norm for FINRA tests. I studied with Kaplan and it hasn't steered me wrong yet (up to this point). I did just order an addtional study guide (Series 24 exam secrets and flashcards). I think any help is good considering what I just read from you guys above...
The 24 is the most intense exam i have had to take. I used the study material from Trainingconsultants.com. It is by far the best material i have seen and used. Hope this helps
I just took the 24 this morning. I knew the Training Consultants book inside and out. I had almost an hour and a half left and got a 83%. That said, it was a difficult test. I would say at least 20 questions were not covered in the book at all, and some of the wording on topics I knew well still had you double thinking things. I took the 7 probably 15 years ago and got a 93, but I am sure it has had to of gotten a little harder over time.
I took the series 24 using STC training materials and I got an 81 on my first try. I did everything STC told me to do which included: reading the book, attending the 4 webs and working through EVERY question on the practice CD once. I have a very limited background with retail brokerage products, and I have spent most of my career working with the institutional division of my company. I never would have passed this exam if it were not for the detailed STC training materials. My husband used Kaplan and scored much lower than me. I reviewed their materials and the book was half the size of STC's manual. I would recommend STC to anyone!!!! I am very pleased!!!!!
I am taking the 24 in early Dec. I'm wondering if the test requires you know the names of all the rules, or just rules themselves. Can someone comment on how detailed the test is when it comes to knowing what each section of a regulation is referring to, or if you just need to know the rules without necessary being able to identify the exact section (for example will there be questions that just say, something like 'what is section 13F of the 1934 Act?). Thanks.
Here are my 2 cents. I just took the Series 24 exam for the first time and passed with an 80%. I used Kaplan study materials which included the online qbank questions and on demand class videos. I basically followed the Kaplan study guidelines as closely as possible. I read the whole book, went through almost 100% of the questions in the qbank and took at least 10 (150 question) practice exams as well as the Mastery exam that they offer on their site. I was scoring 85-93% on the practice tests before taking the exam. The actual exam was torture, I felt like there was so much material on it that I wasn't familiar with and the questions were worded very differently from the study materials. There were no combination questions, like I&IV, they were all multiple choice with just one answer per question. There were not very many rules that I had to know by the actual numbers. The ones that showed up on my test by number were Rule 144, 144A, Reg A, Reg M, and maybe a couple more. At the end of the exam as I was waiting for my score I really felt like there was a large possibility that I had not passed. Alas, I did pass and by a decent margin, so in my experience the Kaplan material works. I also used Kaplan for my Series 7 exam which I took about 2 months ago and I passed that with an 86. My advice to everyone studying for these exams is put a ton of time and dedication into reading the book and going through lots of practice exams. I basically had no social life for the past 5 months, studied nights and weekends while also working full time. I gave 5 months of my life to this but now I've got the licenses and I never, ever have to do this again!
Took the 24 yesterday for the first time, that test is NO JOKE! I studied myself into a coma for a month and only got an 81. I used training consultants for all my tests; 7,66 & 24 and passed with 90%, 88%, and 81% respectively. I can only say great things about TC. They've never steered me wrong and do a fabulous job at not only preparing you for the test questions, but with the underlying knowledge that applies to the test. I found the 24 to be much harder than the 7.
I wanted to add to this thread because reading it really helped me prepare for the exam. I passed this morning and couldn't be happier!
I agree with most of the previous posts that this exam is extremely difficult. I passed my 7 on the first try in the high 80's and have always been incredibly proficient with standardized exams. The 24 threw me for a loop because the questions on the actual exam seemed to be really different from the study materials. What really helped me was getting a second form of study material. I studied solely using Kaplan at first and failed the exam but when I added Testeachers to the mix I passed the Series 24 with flying colors. Testeachers has really great video libraries and their customer support is excellent. The reading is also laid out in bullet point format so it's a bit less wordy and easier to memorize. It's an amazing feeling to be done with this exam! Good luck to anyone who will be taking it soon. :)
I looked at this site when thinking of taking the 24 and it was helpful. Training Consultants was my study material. Studied nights and weekends 3 months, then all day last 7 days. Scoring 85% on last 2 practice exams, I passed with 78 (well, 78.7% but no they dont round up!). I had gotten 88% on the Series 7 about 25 years ago. This seems common; to score about 10 points less on the 24 compared to the 7. Also to get about 7% less on the 24 compared to Training Consultants' full practice exams. Spent much of my study time taking TC's practice chapter tests. Biggest task is reading the material fist time thinking of each topic, then as you go over the material it gets easier as it sinks in. Kept an acronym page - with a short description of each of the many acronyms. Good luck!
A few days ago it was nothing to do, began to look for how to make money on the internet and came across this seven WebMoney purse
Said that the need to put 77 to 7777 dollars and come back at 7 times more! I thought it was just another divorce, but $ 77 was not sorry to go.
Already thought lost money, but in 7 hours by going to the page I saw that I had 539 dollars! Sent a second time, it's over. Sent a third, also came. But only 7 times a day, you can send money
Whatever the message above is all about notwithstanding, I took the 24 several years ago. I too have heard that it has been made progressively more difficult. I also however after reading several of the posts remember hearing the same types of complaints of some of the test material not being in the study materials. I believe there is no doubt that is the case and always will be. Because of changing laws, an effort to maintain the test's relevancy and remain a true test of reasoning skills, FINRA will always have their tests designed with unknown or experimental questions that we may see passed down as dictum at the professional level at some point in the future. My suggestion is to stop looking, you will not find the holy grail you are looking for. I have gone on to take the 9/10 and found the same "unknown" material raised its ugly head on those as well.
The one solution I found was given to me way back when I was using the Dearborn (now Kaplan I believe) materials when I was studying for my Series 7. Back then Dearborn gave a guarantee, if you consistently score over 85% on all of your practice tests and finals, if you did not pass, you get your money back, period the end. With that mindset, I got 86% on my 7. I used them again for my Series 24 and while they did not have, well more to the point I did not ask, if they had that same guarantee, I went in with that same philosophy. If I am not getting over 85% all the time, then I am not ready. Again with that mindset, I got 73% the first time on the 24. I only studied for 2 weeks...for the 24, NOT the 7. Now that was a hard 2 weeks, I did nothing else, no TV, no real work (truth be told) and not less than 8.5 hours of study a day between work and home including weekends. I lived ate and breathed the damn thing. I think the person who was told "they had learned the test" was given good counsel. The format of the questions or similarity to what was presented in the study materials should be supplemented with what Soccer Guy had to say regarding avoiding the "fact trap". I think that was awesome advice. I used Pass Perfect for my 9/10 and am therefore confident that for the 24. with either source, Kaplan or Pass Perfect, simply because of with both P.P. and Kaplan's sheer number of tests that are available to be taken and customized, its hard to go wrong. As an unsolicited kudo to Pass Perfect, I called several times when I was studying and was given personalized help in some rough spots for no extra money at all from the same person. That person helped to design the study materials if I remember correctly. They were awesome. I cannot praise them highly enough. Good luck!
I took the exam yesterday and scored an 87%, which completely blew my mind because I was scoring 60% to 65% on practice exams by STC and Pass Perfect. I used Training Consultants to prepare. I started out with STC but found the material too dense and wordy as a study guide, so I coughed up nearly $500 for Training Consultants. I also purchased the test bank from Pass Perfect. The PP and STC practice exams seemed to include material that I was not familiar with. I was already so invested with Training Consultants, I just stuck with them. They have only 4 practice tests and I took them each once and scored 76%, 78%, 83% and 83% in that order. I studied a considerable amount. The information is not hard to understand, but it is or was very hard to remember given the sheer volume. I suggest anyone taking this test make a kind of Cheat Sheet to put all the information that you want to remember in just a few pages and try to memorize that. The long sentences and legalese language just makes it difficult to remember. It has been about 10 years since I last took a test and I wish I had made the Cheat Sheet earlier. At times I want back to the STC material to cover topics that weren't making sense from TC and realized that STC actually did a pretty good job with the material, but not a great job at boiling it all down. I haven't read any study material from PP, but the advertisement shows that have a comprehensive study guide and then a short 200 page guide where the boil stuff down - which is what I was hoping for from STC. As I have indicated earlier, the performance on the TC practice tests seem have the best correlation with performance on the actual test - in my experience. Earlier postings on this site indicate that people scored lower on the actual test than they did on practice exams for STC and PP - which was the opposite of my experience. I really thought I was borderline going in and I studied a lot. But after I started, it seemed very easy for the first 60 questions and got harder after that. The high level of preparation seemed to pay off - allowing me to eliminate the wrong answers and know how FINRA might think on questions where I wasn't sure. This was my first shot at the 24 and being a research analyst about 95% of the stuff was new to me. I would have gladly settled for a lower passing score for less prep time. Hopefully this posting helps someone and good luck!
I am getting ready to start the process of taking the 24. I have used Kaplan for many other things and have had decent success. Is this still a viable option?
Also, what extra CE requirements are there for the 24? Thanks.
I just took the S24 and passed with an 87%. I started with Kaplan books (which I had used for the CFA & CAIA) but I found that their question bank actually was just OK. I bought the PassPerfect online exams as a supplement which were clutch. On the real exam there were maybe 5-10 questions that I hadn't seen before (as opposed to the 25 or so people had mentioned above) so there weren't too many surprises. I thought most of the unknown questions were intuitive. I read the Kaplan book once through to get the foundation and then just hammered out practice questions & tests. I was getting 65%-75% on the practice exams and PassPerfect did say that on the real test you're likely to get 10% on top of practice exam scores, which was accurate. The materials is dry as hell and 90% of it I'll never use because we'll never be a market maker or trading firm but they want to just hammer this stuff in your head once so it's somewhere in there.
I am preparing for series 24 and was wondering if someone can please advise me on good flashcards that I can revise at work. slimraeli.. what were your scores like on Kaplan practice tests (full length).Thanks.
GB0324, I am also preparing for the exam. I am not sure of how "good" these are, but there is an App for iPhone (maybe android) and a website called "Quizlet". There you can make your own flash cards and play games to remember them, etc. You can also view other people's flashcard sets. Using someone else's flashcard set would save you some time, but you have to be careful of the accuracy of information. ...but I wanted to share that idea! Good luck to you!
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