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FINRA Series 7

Category - Series 7

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Bubba has a short margin account with a short market value of $22,000, a credit balance of $42,000, and SMA of $500. What is the equity in Bubba’s account?

$500
$20,000
$20,500
$37,000

Explanation

Answer: B - $20,000. The equity in a short margin account is equal to the credit balance minus the short market value. SMA is not considered when computing equity.

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