Series 27: Liquidation

Taken from our Series 27 Online Guide

Liquidation

When any customer fails to meet a margin call in full within the five-day payment period, the creditor must take action to eliminate the deficiency. It must either liquidate securities sufficient to meet the margin call or eliminate the margin deficiency as it exists on the day the liquidation is required, whichever is smaller. If the margin deficiency is $1,000 or less, the broker-dealer is not required to take action.

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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 ;)

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