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. Personal Finance

    3 Key Steps To Take Before You Quit Your Job

    Leaving a job on the best basis means thinking through everything from professional etiquette to what's financially adequate.
  5. Brokers

    A Day in the Life of a Financial Advisor

    Financial advisors do a lot more than just manage portfolios, including prospecting, marketing, client servicing, compliance and administration.
  6. Professionals

    SEC to Advisors: Implement Cybersecurity Plans

    Advisors need to take heed of new SEC guidelines to beef up cybersecurity. Here's what they look like and what some firms are doing.
  7. Credit & Loans

    What Does It Cost to Study Abroad in Paris?

    Housing will be your biggest budget challenge as a student in Paris, but the city offers lots of ways for students to save money, too.
  8. Savings

    Using Your 529 Savings to Study Abroad

    With studying abroad no longer cheap, families may find that a 529 plan college-savings account can fund educational travel. Tip: Read the fine print.
  9. Savings

    Which Gets Priority: Retirement or College Fund?

    On a tight budget? Wondering which to contribute to – your retirement or your kid's college fund? Here's expert help on how best to allocate your savings.
  10. 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.

You May Also Like

Hot Definitions
  1. Hedging Transaction

    A type of transaction that limits investment risk with the use of derivatives, such as options and futures contracts. Hedging ...
  2. Bogey

    A buzzword that refers to a benchmark used to evaluate a fund's performance. The benchmark is an index that reflects the ...
  3. Xetra

    An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra ...
  4. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
  5. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  6. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
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!