Series 24: Mutual Fund Prospectus Rules

Taken from our Series 24 Online Guide

Mutual Fund Prospectus Rules

Because mutual funds shares are issued new for each shareholder, all must be sold with a prospectus. The prospectus must be delivered prior to the point at which the customer acquires an interest in the fund, and it must be up-to-date. The SEC does not permit prospectuses that are in use for more than 9 months to have financial information in them that is more than 16 months old.

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I passed the 24 with the help of the audio, book and test questions. I previously took this test and failed walking away with the thought nothing I studied looked familiar. I also didn't really understand how certain areas functioned... but found the information provided with Solomon worked best for me. The flow charts and extra resources section were extremely helpful in breaking down sections of this "Dry" test. The audio was great to review and the book format was easy to read and concise. I felt almost every question I knew what they were asking and I was able to eliminate one or two questions. Don't waste your money with other sites. Solomon will allow you to pass on the first time. Good luck!

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Hope Brackin, Cambridge Investment Research, Inc., Auburn, AL

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Karen Lessard, Concorde Investment Service Frisco, TX