Series 24: Physical Possession Or Control

Taken from our Series 24 Online Guide

Physical Possession or Control

Rule 15c3-3 requires broker-dealers to determine daily the number of fully paid and excess margin customer securities in their possession or control, and the number not in their possession or control. Should a broker-dealer find itself in a deficit position, it must initiate action to eliminate that deficit. Possession means that the securities are physically located a

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I wanted to let you know I passed the exam [Series 24] this morning! The practice exams were invaluable. Thank you for your extra help and suggestions. I have recommended this to two of my co-workers who will be taking the Series 7 this year. I will say, the 24 was worded so tricky. And so much irrelevant info put into the questions. I had to write down pieces of the question to get the gist of what it was asking. Very purposfully confusing. But it's over and I'm thankful for your product. Thx again

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