The Series 27 is an examination administered by the Financial Industry Regulatory Authority (FINRA). The Series 27 covers the supervisory requirements for broker-dealers who are engaged in the business of proprietary trading and market-making in securities. Are FINRA exams curved? Yes, FINRA exams are curved. The curve is based on the difficulty of the exam and the number of correct answers required to pass. What happens if you fail FINRA exam? If you fail the FINRA exam, you will not be able to become a licensed broker. What is a Series 28 license? A Series 28 license is a license issued by the Financial Industry Regulatory Authority (FINRA) that allows an individual to engage in broker-dealer activities. The Series 28 license is also known as the Limited Representative-Investment Banking License.
The Series 28 license allows an individual to perform the following activities:
- Act as a limited representative of an investment banking firm
- Engage in underwriting and selling securities
- Engage in merchant banking and investment advisory activities
- Act as a placement agent for securities
- Act as a registered representative of a broker-dealer
The Series 28 license does not allow an individual to engage in the following activities:
- Act as an investment adviser
- Manage a mutual fund
- Sell insurance products What is the Series 24 pass rate? The pass rate for the Series 24 exam is not publicly disclosed by Finra. However, according to a study by Kaplan Schweser, the pass rate for the Series 24 exam was approximately 62% in 2018. How long is the Series 27 exam? The Series 27 exam is 3 hours long.