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Series 28 License

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About The Series 28 License

Searching for Series 28 training and help passing your Series 28 exam? Then you've come to the right place!

What Is A Series 28 License?

The Series 28 is one of the newer FINRA exams, and it illustrates the fiduciary importance of accurate recordkeeping for investor accounts. The Series 28, also known as Introducing Broker-Dealer Financial and Operations Principal Qualification Examination, is an exam for professionals seeking become licensed recordkeepers or operations principals for broker-dealers or securities custodians.

With such a wide variety of securities available to retail investors there is a great deal to learn and understand about how each should be recorded and adapted for things like income and principal payments, redemptions, accrued interest, rights and warrants, and many other instances.

Passing the Series 28 Exam permits individuals to engage in the following basic activities:
    Series 28 License
  • Back office operations
  • Preparation and maintenance of a member firm's books and records
  • Compliance with financial responsibility rules that apply to fully disclosed broker-dealers that do not hold customer funds and securities, and do not carry customer accounts
Series 27 vs. Series 28

The Series 27 and Series 28 are both required by FINRA for individuals who prepare and maintain the books of and records of member firms as required under securities industry rules and regulations.

The Series 27 covers brokers-dealers that have a minimum net capital requirement of $250,000 and municipal securities brokers that have a minimum net capital requirement of $150,000. The Series 28 is an abbreviated version of the series 27. Broker-dealers that don't meet the Series 27 thresholds listed above may use the Series 28.

What Is On The Series 28 Exam?

The Series 28 exam assesses the competency of an entry-level financial and operations principal (FINOP) candidate to perform his or her job as a FINOP in an introducing broker-dealer that does not carry customer accounts or hold customer funds or securities. It's composed of 95 multiple choice questions divided into four major content areas by job function. Student have two hours to complete the exam and must score at least a 69% to pass.
  • Financial Reporting
  • Operations, General Securities Industry Regulations, and Preservation of Books and Records
  • Net Capital
  • Customer Protection, Funding and Cash Management

Recommended Series 28 Training Options offers Series 28 training and exam prep materials to help individuals pass the Series 28 exam and earn a Series 28 license.

To find training for earning your Series 28 license, simply click on any of the recommended courses below, or search under "Licensing/Designations" in the search box thereafter for "Series 27/28". Good luck earning your Series 28 license!

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