What Was the Series 11? The Series 11 was a securities license that allowed holders to provide securities quotations and accept unsolicited customer orders for execution. Also known as the Assistant Representative – Order Processing Examination (AR), the Series 11 was administered by the Financial Industry Regulatory Authority (FINRA). In 2018, FINRA retired the Series
What Is the Series 14 Exam? The Series 14 is a financial examination for professionals wishing to become compliance officers. In the United States, those who are primarily responsible for ensuring compliance at their firms must complete the Series 14 exam. Similarly, the exam is also mandatory for those who oversee 10 or more team
What Is the Series 24? The Series 24 is an exam and license entitling the holder to supervise and manage branch activities at a broker-dealer. It is also known as the General Securities Principal Qualification Examination and was designed to test the knowledge and competency of candidates aiming to become entry-level securities principals. Supervisory activities
What Is the Series 26? The Series 26 is an examination administered by the Financial Industry Regulatory Authority (FINRA). Although it is often simply referred to as the Series 26 exam, its full name is the Investment Company and Variable Contracts Products Principal Eam. As its full name suggests, passing the Series 26 exam entitles
What Is the Series 27? The term Series 27 refers to a securities license that entitles the holder to prepare and manage the books and recordkeeping of a member firm. In order to obtain the Series 27 license, a professional must pass the Series 27 exam, also known as the Financial and Operations Principal Qualification
What Is Series 28? The Introducing Broker-Dealer Financial and Operations Principal Qualification Exam—better known as the Series 28 exam—is a financial examination for professionals seeking to become licensed recordkeepers or operations principals for broker-dealers or securities custodians that do not have customer accounts or hold customer funds or assets. Key Takeaways Series 28 is a
What Is the Series 3? The Series 3 is an exam, also known as the National Commodities Futures Examination, administered by the Financial Industry Regulatory Authority (FINRA) on behalf of the National Futures Association (NFA). Candidates who pass the exam are eligible to register with the NFA and sell commodity futures contracts and options on
What Is a Short Sell Against the Box? A short sell against the box is the act of short selling securities that you already own, but without closing out the existing long position. This results in a neutral position where all gains in a stock are equal to the losses and net to zero. The
What is Seller Financing? Seller Financing is a real estate agreement in which the seller handles the mortgage process instead of a financial institution. Instead of applying for a conventional bank mortgage, the buyer signs a mortgage with the seller. Owner financing is another name for seller financing. It is also called a purchase-money mortgage. How
What Is Selling Away? Selling away is when a broker solicits a client to purchase securities not held or offered by the executing brokerage firm. Brokerage firms generally have lists of approved products that can be offered by their brokers to clients of the firm. These approved products have usually undergone due diligence screenings and
