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.


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.

  1. Fiduciary

    A fiduciary is a person who acts on behalf of another person, ...
  2. Broker-Dealer

    A person or firm in the business of buying and selling securities, ...
  3. Financial Industry Regulatory Authority ...

    A regulatory body created after the merger of the National Association ...
  4. Custodian

    A financial institution that holds customers' securities for ...
  5. Series 9/10

    A securities license entitling the holder to supervise branch ...
  6. Maturity

    The period of time for which a financial instrument remains outstanding. ...
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. Professionals

    The Best Financial Modeling Courses for Investment Bankers

    Obtain information, both general and comparative, about the best available financial modeling courses for individuals pursuing a career in investment banking.
  5. FA

    CIPM: The Key To A Niche Career In Finance

    CIPM designates usually work as investment performance analysts.
  6. Entrepreneurship

    The 4 Best Online Entrepreneurship Programs

    Learn about some of the pre-eminent graduate-level entrepreneurship programs available online, and decide which program best fits your needs.
  7. Investing

    Most Valuable Career Skills in 2016

    Evaluating the mixture of technical skills and traditional "soft skills" that render career applicants competitive in the 2016 job market.
  8. Investing Basics

    How To Handle A Serious Dispute With Your Broker

    Find out what to do if you have a dispute with your broker.
  9. Investing

    5 Free Ways to Learn New Skills Online

    Stay sharp and up to speed with today's valuable skills on these five, completely free online platforms.
  10. Options & Futures

    The Alphabet Soup of Financial Certifications

    We decode the meaning of the many letters that can follow the names of financial professionals.
  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. Are variable annuities safe?

    As of October 2015, many life insurance companies, and those companies that sell variable annuities, have experienced economic ... Read Full Answer >>
  3. How are variable annuities regulated?

    The sale of a variable annuity is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory ... Read Full Answer >>
  4. Is a financial advisor required to have a degree?

    Financial advisors are not required to have university degrees. However, they are required to pass certain exams administered ... Read Full Answer >>
  5. Can I use my IRA to pay for my college loans?

    If you are older than 59.5 and have been contributing to your IRA for more than five years, you may withdraw funds to pay ... Read Full Answer >>
  6. Can I use my 401(k) to pay for my college loans?

    If you are over 59.5, or separate from your plan-sponsoring employer after age 55, you are free to use your 401(k) to pay ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Take A Bath

    A slang term referring to the situation of an investor who has experienced a large loss from an investment or speculative ...
  2. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  3. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  4. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  5. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  6. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
Trading Center