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Finra Series-7 Exam - Topic 1 Question 38 Discussion

Actual exam question for Finra's Series-7 exam
Question #: 38
Topic #: 1
[All Series-7 Questions]

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 NYSE minimum equity maintenance for this account?

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Suggested Answer: C

$6,600. The NYSE maintenance requirement on short margin accounts is 30%. Multiplying the short market value of $22,000 by 30% equals $6,600.


by Marguerita at May 07, 2022, 01:32 AM

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Shantell
7 months ago
Just to clarify, short market value is $22,000, right?
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Georgeanna
7 months ago
Definitely not $12,600, that's way too much!
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Lawrence
7 months ago
Wait, is it really that high? Seems off to me.
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Mireya
7 months ago
I think it's $6,600 based on the calculations.
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Joana
8 months ago
The minimum equity maintenance is usually 30% of the short market value.
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Linsey
8 months ago
If I remember right, the minimum equity maintenance for a short account is based on the short market value. I think it might be around $6,600, but I need to double-check.
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Cyril
8 months ago
I remember practicing a similar question where we had to calculate the maintenance margin, but I can't recall the exact percentages we used.
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Chantay
8 months ago
I think the NYSE minimum maintenance requirement is 30% of the short market value, but I'm not entirely sure how to calculate that correctly.
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Rodrigo
8 months ago
I feel like I saw a question like this in our review session, and I think the answer was $6,000, but I'm not completely confident about it.
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Ernie
8 months ago
Okay, let's see. I'm pretty sure the issue has to do with how the columns are set up on the form. I'll need to double-check that.
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Brice
8 months ago
This is a tricky one. I'm not super familiar with the Dynamics 365 for Customer Service routing rules, so I'll have to read through the options carefully. I'm leaning towards either option A or C, but I want to make sure I understand the implications of each before selecting an answer.
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