Series 28: 140% Rule

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

Definition of the term 140% Rule...

an SEC rule that restricts broker-dealers as to how much of their customers' securities can be used as collateral for the broker-dealers' loans. The amount of collateral is capped at 140% of a customer's debit balance.

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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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