Series 28: Other Non-Equity Securities

Taken from our Series 28 Online Guide

Other Non-Equity Securities

For long or short positions in investment grade debt securities, the margin to be maintained is 10% of their current market value. For non-investment grade debt securities the maintenance margin must be 20% of their current market value or 7% of the principal amount, whichever is greater.

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I took this Series 28 today and passed on my first try! I think the practice exams helped a ton, though in general, I would say the actual test seemed (at least to me), more difficult than the practice exams. Either way, couldn't have done it without the Solomon Exam Prep.

Gayle Espinosa. Los Angeles, CA

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Nikita Brown, BMI. Atlanta, GA

I wanted to let you know I passed my Series 28 today!! Thanks for great prep materials. I have been working really long hours at my job and it was a challenge finding the time to study. The video lectures proved to be a big help. I’m glad that exam is over!!!

Nikita Brown, BMI. Atlanta, GA

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Arthur Priddy, Farmers Insurance. Jackson, Tennessee

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Mark Melio, Melio & Company, LLC. Northfield, IL

Maintenance Margin Requirement for Selected Securities
Type of Security	Maintenance Requirement
Type of Security	Long	Short
Equity securities	25%	30%
Convertible bonds	25%	30%
Investment grade corporate bonds	10% of market value	10% of market value
Non-investment grade debt securities	Greater of 20% of market value or 7% of face value	Greater of 20% of market value or 7% of face value
Treasury bonds	1–6 % of market value, depending on years to maturity (on net long)	1–6 % of market value, depending on years to maturity (on net short)
Municipal bonds	7% of current market value