Series 7 - General Securities Representative Exam
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A client sold $10,000 worth of stock on a restricted margin account. What happens to the SMA?
It will be debited by $10,000
A
It will be credited by $10,000
B
It will be credited by $5,000
C
It will be debited by $5,000
D
Explanations
In a restricted margin account, 50% of the sales proceeds are credited to the SMA.