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FINRA Series 7

Category - Series 7

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Bubba buys municipal bonds with a $100,000 principal amount at 89 on margin. His account has no cash or securities. What is his minimum required deposit?

$5,080
$13,350
$22,500
$50,000

Explanation

Answer: B - $13,350. Munis are not subject to Reg T. The NYSE maintenance requirement on munis is the greater of 15% of the market value or 7% of the principal amount.

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FINRA Series 7

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