Series 24: Limited Liability Company (LLC)

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term Limited Liability Company (LLC)...

a corporate structure that is a "pass-through entity." Profits and losses "pass through" the business to the LLC owners. As with a partnership, business income and losses are reported on the owners' personal income tax returns. As with a corporation, all LLC owners are protected from personal liability for business debts and claims.

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Recently passed the Series 24 Exam. I owe it to the Solomon Exam Prep series. The format of study and testing preparation was easy to follow and comprehend. I had taken the exam before and used study material through a different provider. It did not give me the sense of readiness in the "connection of the dots" and time-management like the Solomon series did. Such a relief to see the word PASS.

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

I would just like to say that Solomon’s customer service was excellent. The material was clear and easy to understand and I feel that it prepared me extremely well for my exam. I found the study outline to be the most helpful in keeping me on track. I would definitely refer the material to anyone taking the Series 24. Thank you to the Solomon team for helping me pass my 24!

Tamaqua Roland, Philadelphia, PA

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Karen H, Dalkeith Group, High Falls, NY

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