Finra Says It Accidentally Gave Failing Grade to 208 Test-TakersMichael J. Moore
The Financial Industry Regulatory Authority mistakenly gave failing grades to 208 candidates for the Series 24 exam.
“Finra apologizes to the affected individuals for any problems the error may have caused,” Wall Street’s self-funded regulator said Wednesday in a statement. “No individuals incorrectly received a passing grade.”
The test, which covers rules and regulations for supervising broker-dealers, was given to 1,421 people from July 13 through Sept. 24, according to the statement. Finra, which blamed a “configuration error,” said it’s correcting individual records and notifying the affected firms.
Finra said it administered almost 210,000 exams last year.