Investment Banking and Research

Study the underwriting, offering, disclosure, and research-supervision rules tested in the investment-banking portion of Series 24.

The final Series 24 chapter covers one of the easiest places for a principal to overread their authority. The exam is testing supervision of underwriting, due diligence, public and private offering materials, research controls, and information barriers. It is not testing whether the candidate can act like an investment banker or equity analyst personally.

Read this chapter as a supervisory-boundary chapter. Start with investment-banking workflow and offering oversight, then move into the disclosure and marketing-material review process, and finish with research supervision, conflicts management, and information-barrier controls.

In this section

Revised on Thursday, April 23, 2026