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Finra Series-7 Exam - Topic 3 Question 45 Discussion

Actual exam question for Finra's Series-7 exam
Question #: 45
Topic #: 3
[All Series-7 Questions]

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?

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Suggested Answer: C

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


by Dominque at May 07, 2022, 08:19 PM

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Son
5 months ago
Totally agree, $1,050 seems spot on!
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Ettie
6 months ago
Wait, are we sure about the margin rules here?
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Shantay
6 months ago
I think it’s $1,050, right? That’s what I calculated.
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Cecilia
6 months ago
Gotta be $750 for 100 shares at $15 each.
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Janella
6 months ago
Initial cash deposit is usually 50% of the purchase price.
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Twila
6 months ago
I feel like I might be mixing up the calculations for cash accounts and margin accounts. Is it possible that the initial deposit could be $375?
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Marya
6 months ago
I practiced a similar question, and I think the answer might be around $1,050, but I can't recall the exact calculation method we used.
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Pearlene
6 months ago
I think the initial cash deposit is usually 50% of the total cost, so that would be $750 for 100 shares at $15 each.
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Malinda
6 months ago
I remember that for margin accounts, you typically need to deposit a percentage of the total purchase price, but I'm not sure what that percentage is.
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Shaun
6 months ago
This seems like a classic integration challenge. I think I'll start by listing out the requirements - pulling data from a weather API and Salesforce - and then evaluate each option based on how well it meets those needs.
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Jennie
6 months ago
Hmm, I'm a bit unsure about this one. There are a lot of specific requirements to keep track of. I'll need to read through the question carefully and make sure I understand each step in the solution.
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