Series 27: Special Purpose Credit

Taken from our Series 27 Online Guide

We have an Audiobook for this text!

Special Purpose Credit

A creditor may also extend the following types of credit with good faith margin:

• Credit to finance the purchase or sale of securities for prompt delivery if the credit is to be repaid upon completion of the transaction
• Credit to finance securities in transit or surrendered for transfer if the credit is to be repaid upon completion of the transaction
• Credit to enable a broker-dealer to pay for securities if the credit is to be repaid on the same day it is extended
• Credit to an exempted borrower (see Exempted Borrowers section)
• Credit to a member of a national securities exchange or registered broker-dealer to finance its activities as a market maker or specialist
• Credit to a member of a national securities exchange or registered broker-dealer to finance its activities as an underwriter

+ Read More

More Series 27 Info

What are people saying?

Create an Account

Since you're reading about Series 27: Special Purpose Credit, you might also be interested in:

Series 53 - Delivery and Payment

Series 65 - Measuring Mutual Fund Performance Against Benchmarks

Series 65 - 2.6.3 Maturity Structure

Series 3 - 7.6.3.1. CFTC Investigations and Prosecutions

Please Enable Javascript
to view this content!

Site Login

Forgot Password?

Create an Account

TESTIMONIALS

What are people saying?

I passed my 27 and I can't thank you enough for the preparation materials, most importantly the Final Exams. I studied for weeks for this test and buckled down the last two weeks of 6 hour study days. It's a great feeling and I couldn't have done it without you!!!

Amanda Whitney, Great Nation Investment Corporation, Amarillo, TX

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

Thank you for the flexibility and the study material for 63, I ended up with an 87 thanks to your materials! Thank you Solomon!

Allen Ruffles

I truly wish I had tried Solomon Exam Prep earlier! Started studying for the Series 65 exam with a different company and missed passing the test by 4 questions. I was pretty disappointed because my study materials, especially the quiz generator, weren't a great reflection of what the test would actually be like. But Solomon's Exam Simulator was the KEY to passing my second go-around! Questions were very similar to the actual exam and I managed to boost my score by 10% from the first time, only using the Solomon materials for less than a week! HIGHLY recommend this to anyone in need of 65 materials!

Hannah Cash, Denali Wealth Management, Indianapolis, IN

Passed the 24 today ... fun test.. You have a great product. The material was easy to follow and the practice tests were very, very helpful. Thank you.

Danny Klingler, Kestra Financial, Austin, Texas

I never really had to study in high school or college, so I was especially nervous to take this exam after hearing from colleges how difficult the Series 6 was. This program gave step-by-step instructions on how to study which ultimately led to me passing on my first try with an 81.

Ambria Smith, PFM Fund Distributors, Harrisburg, PA

Regulation T Credit Accounts
Type of Account	Characteristics
Margin Account	• Initial margin requirement is 50% equity for long equity securities and convertible debt • Initial margin is 150% for short sales of equity securities
Special Memorandum Account (SMA)	• Defines a customer’s buying power with a margin account • Customer can purchase two times amount in SMA
Cash Account	• Transactions must be paid in full within five business days of trade date • Freeriding violations occur in this kind of account • Covered calls and puts can be placed in thi

Solomon Exam Prep has moved to Pass Perfect! Contact support to move your account →

Series 27: Special Purpose Credit

Taken from our Series 27 Online Guide

Special Purpose Credit

Since you're reading about Series 27: Special Purpose Credit, you might also be interested in:

Ask the Professor

Thanks for being part of the Solomon community!

All securities exam prep and IAR CE courses must now be purchased
at Pass Perfect. Go now →