Series 28: Freeriding

Taken from our Series 28 - Introducing Broker-Dealer Financial and Operations Principal Qualification Examination

Definition of the term Freeriding...

the prohibited practice of buying securities and selling them the next day to pay for them before the settlement date. Typically if a customer freerides, the sell order will go through, but the account is then frozen to prevent further freeriding.

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Last August 2020 I passed the Series 28 on the first try using your materials. I just wanted to drop in and let you know I passed the Series 27 exam today!! I am so happy today as I took the test in Jan of this year and missed it by 3 points. I switched up my focus and really zoned in the most heavily weighted chapters. This is by far the hardest exam I have taken. Thank you Solomon for your excellent study materials. I'll be back when I pass the next one ;)

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Nikita Brown, BMI. Atlanta, GA

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