Series 27: Securities Borrowed

Taken from our Series 27 Online Guide

Securities borrowed

A deduction of 1% of the market value of borrowed securities that are collateralized by an irrevocable letter of credit must be applied, regardless of whether the letter of credit is secured or unsecured.

SEC Rule 15c3-1(c)(2)(iv)

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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 ;)

Nikita Brown, BMI. Atlanta, GA

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