Series 28: Haircuts

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

Definition of the term Haircuts...

a discount that the SEC applies to the market value of securities held by a broker-dealer. Since the value of a security is constantly fluctuating, the SEC discounts its current market value to provide a cushion to account for a possible decrease in value at the time of a firm's liquidation.

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I took this Series 28 today and passed on my first try! I think the practice exams helped a ton, though in general, I would say the actual test seemed (at least to me), more difficult than the practice exams. Either way, couldn't have done it without the Solomon Exam Prep.

Gayle Espinosa. Los Angeles, CA

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Nikita Brown, BMI. Atlanta, GA

I wanted to let you know I passed my Series 28 today!! Thanks for great prep materials. I have been working really long hours at my job and it was a challenge finding the time to study. The video lectures proved to be a big help. I’m glad that exam is over!!!

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