Series 27

Money and operations positions at an NASD agency usually call for the Collection 27 license. There are quite a few locations and departments of a brokerage agency. Persons hunting to become brokers will normally need to get the collection 6 or collection 7. Supervisors of brokers or gross sales people may possibly need to have the series 24.

The Series 27 is an test that handles matters dependable with doing work as a compliance officer or in yet another fiscal operations division. The test is 145 thoughts and many alternative. Like the other NASD checks, the Sequence 27 can be taken any day of the week at Prometric tests facilities. You need to register through your brokerage agency prior to arranging a test day. The moment you are registered, a 120 working day tests window is opened. You can consider the Series 27 at any time all through that 120 working day interval. If you fail the exam, you need to wait around 30 days just before sitting down for the take a look at yet again. If you are unsuccessful the Sequence 27 a few periods, you have to hold out 6 months.

Most of the examination handles principles, regulations and functions of an NASD firm.

Take a look at Breakdown

The Sequence 27 covers various main matter regions, they include:

Harmony sheet and net capital.

This section will include computing a firm’s net cash, comprehending the rules and minimums of holding minimum amount net funds, and comprehension the stability sheet. It will also exam the applicant on the effects of loans and securities on web capital and its impact on the balance sheet. This is the space that covers the most math on the take a look at.


This space of the Sequence 27 incorporates purchases and income of securities, transfer of securities, consumer settlements and confirmations, and other merchandise that need history trying to keep and reporting.

Buyer Protection and Notification

This section of the exam will check you on notifications, supply of securities, and pursuits in the accounts of the firm’s shoppers.

Margin Accounts

A reasonably large part of the Series 27 offers with lending of dollars and securities in margin accounts. The margin portion will cover industry values, equity, debit harmony, SMA, hypothecation and the markets result on margin accounts. There is some math in this area. You have to have to know essential calculation and the principles related with margin accounts. Federal Reserve Board and NYSE margin principles are lined in this portion.


The group that oversees the municipal industry is acknowledged as the MSRB – Municipal Securities Rulemaking Board. Brokerage firms that offer municipal securities should abide by the MSRB. Pupils studying the Series 27 ought to be familiar with the procedures and regulation that are included by the MSRB.

Other locations involve guidelines and securities acts.

Sequence 27 Career

If you are on the lookout to crack into the money functions region of NASD firms, the Sequence 27 can be a big additionally. If you are in concerning employment or companies and do not at the moment hold the Collection 27 license, you may want to contemplate finding out for it and start adding your procedure on your resume. Performing this can give you an edge about other candidates not common with the test. These are income positions, which is the excellent section. Most work opportunities at brokerage firms (that are non-guidance work opportunities) are fee – or largely based mostly on commission. The poor section is that firms do not use teams of people for their compliance department. You will need to continue to keep a glimpse-out for these openings. Most firms only need to have a person compliance officer.

Very good luck in your vocation!