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FINRA Series 7

Category - Series 7

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Bubba buys $100,000 of US Treasury 10½s of 31 on margin. If the current market price is 92.16, what is Bubba’s minimum deposit requirement?

$4,625
$5,550
$10,000
$25,000

Explanation

Answer: B - $5,500. The NYSE maintenance requirements on obligations of the US treasury vary depending upon the term of the instrument. For 20-year bonds, the requirement is 6% of the market value. Multiplying the market value of $92,500 by 6% equals $5,500.

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