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FINRA Series 7

Category - Series 7

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Bubba has a short margin account with equity of $15,000 and a credit balance of $28,000. What is the current NYSE minimum equity maintenance requirement on Bubba’s account?

$3,900
$4,500
$3,250
$3,750

Explanation

Answer: A - $3,900. The requirement for short accounts is 30% of the current market value. The market value is $13,000 ($28,000 - $15,000). Multiplying by 30% equals $3,900.

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