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FINRA Series 7

Category - Series 7

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Bubba is opening a margin account with a member organization. He wishes to purchase 100 shares of XYZ at $15 per share. What is Bubba’s initial cash deposit?

$375
$1,050
$1,500
$2,000

Explanation

Answer: C - $1,500. The NYSE minimum requirement is the lower of $2,000 or 100% of the account.

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