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What Is a Sequestered Account? A sequestered account is a deposit account that is seized through legal action or court order. Funds cannot be removed from a sequestered account without the approval of the seizing party. Sequestered accounts are usually separated from other accounts and kept in a separate file. The term sequestered account is

What Is Sequestration? Sequestration is a term adopted by Congress to describe a backup fiscal policy mechanism to enforce budgetary discipline over agreed-upon deficit reduction targets established under the 2011 Budget Control Act (BCA). Sequestration, or “the sequester,” is a procedure by which planned spending increases are moderated by pre-specified percentages if Congress fails to

What Is a Serial Bond? A serial bond is a bond issue that is structured so that a portion of the outstanding bonds mature at regular intervals until all of the bonds have matured. Because the bonds mature gradually over a period of years, these bonds are used to finance projects that provide a consistent

What Is a Serial Bond With Balloon? A serial bond with balloon is a bond for which portions of the total principal amount mature at staggered intervals and have a final payment significantly larger than the previous ones, called the balloon, owed at the end of the issue’s life. A combination of a serial bond

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