Series 28

AAA

DEFINITION of 'Series 28'

An exam given by the Financial Industry Regulatory Authority (FINRA) for people seeking to become licensed record-keepers or operations principals for FINRA-member broker/dealers or securities custodians. The Series 28 exam tests knowledge on how to accurately record investment transactions, the financial responsibilities of broker/dealers and custodians, net capital requirements, and the rights of investors under the Securities Investor Protection Act of 1970. The test consists of 95 questions, and a score of 70% or better is required for passing.

INVESTOPEDIA EXPLAINS 'Series 28'

The Series 28 is one of the newer FINRA exams, and it illustrates the fiduciary importance of accurate record-keeping for investor accounts. There are so many different types of securities offered to retail investors that a lot of knowledge is required to understand how each should be recorded and adapted for things like income and principal payments, redemptions, accrued interest, rights and warrants, and many other instances.

RELATED TERMS
  1. Broker-Dealer

    A person or firm in the business of buying and selling securities, ...
  2. Series 9/10

    A securities license entitling the holder to supervise branch ...
  3. Fiduciary

    1. A person legally appointed and authorized to hold assets in ...
  4. Custodian

    A financial institution that holds customers' securities for ...
  5. Financial Industry Regulatory Authority ...

    A regulatory body created after the merger of the National Association ...
  6. Advanced Diploma In Insurance

    A qualification earned by insurance professionals and conferred ...
RELATED FAQS
  1. How does FINRA differ from the SEC?

    With all the financial organizations out there, knowing what they all do can be as complicated as knowing where to invest. ... Read Full Answer >>
  2. Why should investors consider the fully diluted share amount?

    Investors should consider a company's fully diluted share amount before purchasing the company's stock, because it could ... Read Full Answer >>
  3. What's the difference between basic shares and fully diluted shares?

    Basic shares and fully diluted shares are different types of methods to measure the amount of shares investors hold in a ... Read Full Answer >>
  4. What is the difference between share purchase rights and options?

    There is a big difference between share purchase rights and options. With share purchase rights, the holder may or may not ... Read Full Answer >>
  5. If I have only a limited amount of time to study for the Series 6, what should I ...

    The Series 6 Investment Company and Variable Contracts Products Representative Qualification Examination is administered ... Read Full Answer >>
  6. What role does the 'chip cycle' play in the electronics sector?

    There are several highly acclaimed private Series 6 Exam courses in the United States. Many can be completed online. Popular ... Read Full Answer >>
Related Articles
  1. Insurance

    Tips For Passing The Series 6 Exam

    Find out what you can do during the test to make sure you get a passing score.
  2. Options & Futures

    Broker Or Trader: Which Career Is Right For You?

    A day in the life of a broker or trader is an exciting and varied one. Find out how to decide between these two financial professions.
  3. Professionals

    Investigating The Securities Police

    Learn about the history of FINRA and how this organization protects investors.
  4. Economics

    Top European MBA Programs: The Short List

    The London Business School is currently ranked second best in the world right after Harvard Business School. These European business schools also offer outstanding MBA programs.
  5. Credit & Loans

    Study Abroad: Budget For Brazil

    Interested in study, food and adventure in one of the fastest growing economies in the world? Check out what Brazil costs.
  6. Personal Finance

    When Is College The Wrong Investment?

    Attending a very expensive college with the wrong degree could turn into a bad investment due to low salaries and high debt.
  7. Professionals

    Understanding Series 6

    Upon successful completion of the Series 6, an individual will have the qualifications needed to sell open end mutual funds and variable annuities
  8. Professionals

    Top Strategies on How to Become a Stock Broker

    Gunning to be a stock broker and want an edge? Here's some veteran advice.
  9. Trading Systems & Software

    Steps to Starting Up an Independent Broker Dealer

    Launching your own broker-dealer is a lot of work, but the potential payoff is great, both personally and financially.
  10. Personal Finance

    6 World Class Universities In New York City

    A starter guide to six of the many world-class, respected and highly rated universities and colleges in New York City.

You May Also Like

Hot Definitions
  1. Social Security

    A United States federal program of social insurance and benefits developed in 1935. The Social Security program's benefits ...
  2. American Dream

    The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version ...
  3. Multicurrency Note Facility

    A credit facility that finances short- to medium-term Euro notes. Multicurrency note facilities are denominated in many currencies. ...
  4. National Currency

    The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is ...
  5. Treasury Yield

    The return on investment, expressed as a percentage, on the debt obligations of the U.S. government. Treasuries are considered ...
  6. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!