This is a very good resource for Series 27 exam facts! At http://www.examfacts.com they have an excellent study guide filled with basic exam facts for the Series 27 exam. The book is also available at Amazon.com
Example Questions from the Exam Facts 27 Book:
Define subordinated
debt
1) Included in
Net Cap if BROKER / DEALER approved by FINRA and SEC
2)
Next-to-last to be paid in the event of failure.
3) Structure
of Loan must be approved
What is the
formula for total available capital?
Total
Available Capital = Adjustment Net Worth + Subordinated Loans
What is the
formula for total tentative net capital?
Tentative Net
Capital = Total Available Capital – Non-Allowable Assets
What is the
tentative net capital?
Also known as
Net Capital Before Haircuts
Define Haircut
1) Discount
securities from full market value
2) Compensate
for market price losses in liquidation
What is the
advanced formula for net capital?
Net Capital =
Tentative Net Capital - Haircuts on Securities Positions
