About The Series 27 License

What Is A Series 27 License?

The Series 27, also known as the Financial and Operations Principal, is a securities license entitling the holder to prepare and manage the books and recordkeeping of a member firm. Passing the Series 27 essentially allows individuals to act as a member firm CFO.

The Series 27 exam is administered by the Financial Industry Regulatory Authority (FINRA) and assesses the competency of entry-level Financial and Operations Principal (FINOP) candidates to perform their job.

Covered Topics:

• Statutory rules surrounding broker-dealer responsibilities
• Recordkeeping requirements
• Items covered under the Securities Investor Protection Act of 1970

The Series 27 Licensing Exam vs. Series 28 Licensing Exam

The Series 27 licensing exam and Series 28 licensing exam 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 27 Exam?

The Series 27 consists of 145 scored questions and an additional ten unscored pretest questions. Candidates have 3 hours and 45 minutes to complete the exam and the passing score is 69 percent.

• Financial Reporting
• Operations, General Securities Industry Regulations, and Preservation of Books and Records
• Customer Protection
• Net Capital
• Funding and Cash Management

Recommended Series 27 Exam Prep Training Materials

ABTrainingCenter.com offers Series 27 training materials to help individuals pass the Series 27 exam and earn a Series 27 license.

To find training for earning your Series 27 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 27 Operations Principal license!