Series 28

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.

BREAKING DOWN '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. Series 42

    An exam offered by the Financial Industry Regulatory Authority ...
  2. Series 86/87

    An exam administered by the Financial Industry Regulatory Authority ...
  3. Series 27

    A securities license entitling the holder to become a chief financial ...
  4. Series 51

    An exam offered by the Financial Industry Regulatory Authority ...
  5. Series 39

    A two-hour exam offered by the Financial Industry Regulatory ...
  6. Series 23

    An exam offered by the Financial Industry Regulatory Authority ...
Related Articles
  1. Professionals

    SUPERVISOR QUALIFICATIONS AND PREREQUISITES

    Supervisor Qualifications and Prerequisites People who supervise or train agents generally must register as a principal with FINRA and qualify by training or experience. Prior to taking a principal ...
  2. Professionals

    Series 3 - National Commodities Futures

    FINRA Series 3 Exam Guide
  3. Professionals

    Securities Transactions

    FINRA Series 7 Exam Study Guide - Section 12
  4. Professionals

    Introduction

    Series 6 Section 1 Exam Details, introduction
  5. Professionals

    Investment Securities

    FINRA Series 6 Exam Study Guide: Section 2 - Investment Securities
  6. Professionals

    Securities Markets

    FINRA Series 6 Exam Study Guide: Section 1 - Securities Markets
  7. Professionals

    The Basics of Financial Securities Licenses

    The Financial Industry Regulatory Authority (FINRA) offers several licenses that correspond to specific businesses or investments.
  8. Professionals

    Understanding Series 63

    Series 63 is a securities license that entitles the holder to sell securities in a particular state.
  9. Professionals

    Securities Markets

    FINRA Series 7 Exam Study Guide - Section 9
  10. Term

    What is the Series 66?

    The Series 66 exam is one of two tests required to register as both a securities agent and an investment advisor.
RELATED FAQS
  1. What certification series does one need to be a bond broker?

    One major requirement before one can become a bond broker is to pass the General Securities Representative Exam, commonly ... Read Answer >>
  2. What are the differences between the Series 6 exam and the Series 7 exam?

    Learn about the regulatory exams needed to become a limited or registered representative and the main differences between ... Read Answer >>
  3. I have passed the Series 63 and FINRA Series 7, but would like to become licensed ...

    Becoming an investment adviser representative requires more examination than just taking the FINRA Series 63 exam. See what ... Read Answer >>
  4. Is a financial advisor required to have a degree?

    Discover the minimum educational requirements and financial licenses needed to become a financial advisor in the modern corporate ... Read Answer >>
  5. Do financial advisors need to be approved by FINRA?

    Learn about whether a financial advisor may be required to be approved by FINRA, and what exams a financial advisor needs ... Read Answer >>
  6. What are my options if I fail my Series 63 exam?

    Find out what options are available to a person who has failed the Series 63 exam, a test that many states require for licensing ... Read Answer >>
Hot Definitions
  1. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  2. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  3. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  4. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  5. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  6. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
Trading Center