Series 27 study plan

Define the minimum net capital requirement for each category of broker-dealer and state which tier applies to a firm that carries customer accounts or holds customer funds.

Compute net capital from a trial balance by identifying allowable assets, deducting liabilities, and applying required haircuts.

Calculate the aggregate indebtedness ratio and the alternative net capital ratio, and determine which standard a firm is permitted or required to use.

State the early warning thresholds and describe the notification and operational consequences that follow a breach.

Apply Rules 17a-3 and 17a-4 to classify a given record, assign its retention period, and state the access standard for the first two years.

Determine whether a specific record may be maintained electronically and what conditions (non-rewriteable, non-erasable format, audit trail, downloadability) must be satisfied.

Sequence the FOCUS report filing calendar and describe the annual audit, annual report, and notice-filing obligations that accompany it.

Map subsidiary, affiliate, and branch-office records to the responsible entity for recordkeeping purposes.

Compute haircuts across equity, municipal, corporate bond, and listed option positions, including the higher haircut on concentrated or unhedged positions.

Determine when a subordinated loan or debt instrument qualifies as equity capital and apply the staged haircut schedule in its final years.

Populate a FOCUS Part II or Part IIA net capital schedule line by line from a set of raw balances.

List the events that trigger a same-day or next-day notification to regulators and specify what must be reported.

Trace a trade through allocation, confirmation, comparison, settlement, and fail status, and identify the record created at each stage.

Distinguish customer, proprietary, and non-customer account treatment and describe stock record and transfer agent obligations.

Apply anti-money-laundering, customer identification, and suspicious activity reporting timelines to operational scenarios.

Explain buy-in procedures and ex-clearing arrangements and connect each to net capital and possession-or-control consequences.

Contrast GAAP presentation with regulatory reporting for broker-dealer financial statements and identify where the two diverge.

Apply revenue recognition, accrued interest, and inventory valuation treatments to representative transaction sets.

Reconcile selected FOCUS report line items to GAAP financial statement captions.

Interpret the annual audit, internal control, and financial statement distribution obligations of the firm.

Compute the reserve deposit requirement by netting customer credits against customer debits under the customer protection formula.

Classify accounts as customer or non-customer, including proprietary accounts of brokers, special omnibus, and municipal accounts.

Determine when a security is in the firm's possession or control and identify the conditions that break control.

State the required frequency of the reserve computation and the deadline for depositing any deficit into the special reserve account.

Build a rolling cash flow projection identifying funding sources, uses, and maturity mismatches.

Explain the mechanics of stock borrow, repurchase agreements, and committed credit lines as funding tools and their capital treatment.

Evaluate a liquidity stress scenario and trace its effect on the net capital and reserve computations.

Describe the limits on using customer funds or securities to finance firm operations.

Recompute the three weakest topics identified in prior quizzes without reference materials.

Complete two full-length timed simulated exams under test conditions.

Reproduce the core formulas and thresholds from memory on a single reference sheet.

Classify every missed question by error type and close out each one with a corrected explanation.