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Finra Series-7 Exam - Topic 2 Question 33 Discussion

A short sale can be made in which of the following types of accounts?
C) margin account
A) special cash account
B) a custodian account
D) special memorandum account

Finra Series-7 Exam - Topic 2 Question 33 Discussion

Actual exam question for Finra's Series-7 exam
Question #: 33
Topic #: 2
[All Series-7 Questions]

A short sale can be made in which of the following types of accounts?

Show Suggested Answer Hide Answer
Suggested Answer: C

margin account. A margin account is required for short sales.


by Bette at May 04, 2022, 01:06 PM

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Staci
10 months ago
I thought special memorandum accounts were for something else entirely!
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Martha
10 months ago
Special cash accounts? Nope, not allowed for short sales.
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Genevive
11 months ago
Wait, can you really do a short sale in a custodian account? That seems off.
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Ira
11 months ago
Totally agree, margin accounts are the way to go for that!
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Francene
11 months ago
A short sale can only be made in a margin account.
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Desiree
11 months ago
I definitely recall that margin accounts are the right choice for short sales, but I can't remember if the special memorandum account has any relevance here.
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Glendora
11 months ago
I’m a bit confused; I thought custodian accounts could allow short sales, but now I’m questioning that.
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Jules
11 months ago
I remember practicing a question like this, and I believe a special cash account is not allowed for short sales.
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Ellen
11 months ago
I think a short sale can only be done in a margin account, but I'm not completely sure about the other options.
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Matthew
11 months ago
Okay, let's see. We need to set up the dimensions that affect WMS, and they need to be identical in each company. I'm leaning towards option C, creating a product master and assigning the configuration.
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Hoa
11 months ago
I'm a bit unsure about this one. The question is asking if the underlined text doesn't make the statement correct, so I'm not sure if "No change is needed" is the right answer. I might need to think this through a bit more.
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Olga
11 months ago
I remember a practice question about how combining warehouses improves inventory efficiency, so I'm leaning towards option B.
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