Series 27 License Practice Test
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Get exam-style questions, detailed explanations, and realistic timing to master the latest Financial Industry Regulatory Authority (FINRA). Prepare Series 27 License practice test then walk into your Finance, Insurance and Real Est exam with confidence.
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Frequently Asked Questions
What is the Series 27 License?
The Series 27 license allows a person to serve as a Financial and Operations Principal. This role involves overseeing how a brokerage firm handles its money and records. It is a technical qualification for people who manage financial reporting and ensure the firm follows strict capital rules from the government.
Who is required to take this exam?
People who act as the Chief Financial Officer or senior financial officer at a brokerage firm must take this exam. It is for those who manage the financial books and records. If a firm handles customer money directly, its top financial leaders are required to hold this specific license.
What are the prerequisites for the Series 27?
There are no prerequisite exams for the Series 27 license. You do not have to pass the Securities Industry Essentials exam first. Many other licenses require you to pass lower level tests before taking a principal exam, but this one is an exception to that standard rule in finance.
What are the main topics covered in the exam?
The exam is divided into five Functions:
- Financial Reporting (25 questions)
- Operations and Recordkeeping (42 questions)
- Customer Protection (24 questions)
- Net Capital (41 questions)
- Funding and Cash Management (13 questions)
What is the most difficult part of the test?
Most students find the net capital and customer protection rules the most difficult. These sections require you to perform many math problems using specific formulas. You must calculate how much money a firm needs to keep on hand based on the value of the different investments the firm owns.
How much study time is recommended?
Professionals typically study for eighty to one hundred hours to prepare for this examination. Because the material is highly technical, reading the textbook several times is essential. Many candidates also utilize Prephow practice tests to become familiar with the specific types of mathematics questions they will encounter.
Is the Series 27 worth it for my career?
This license is very helpful for a career in finance. It proves that you understand the complex rules of accounting and regulation. Many top leaders at brokerage firms hold this license. It can lead to higher pay and more responsibility in the operations and financial departments of a company.
Can a Series 27 holder sell securities?
This license does not allow you to sell stocks or bonds to the public. To sell securities, you must pass other exams like the Series 7. The Series 27 is specifically for the financial and operational management of the firm. It focuses on accounting rather than sales or trading.