Series 28 Practice Test 13

10 free Series 28 practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

Series 28 Practice Test 13Tutor mode

Question 1 of 10

Net Capital

Eighteen months ago, Saxby Securities bought newly issued U.S. Treasury notes. The notes now have six years left to maturity, and the position's market value is $1,000,000. Using the government-securities haircut schedule excerpt below, what is the haircut?

Haircut schedule excerpt — U.S. government obligations (15c3-1(c)(2)(vi)(A))
Time to maturity	Haircut
1 year but less than 2 years	1.5%
2 years but less than 3 years	2%
3 years but less than 5 years	3%
5 years but less than 10 years	4%