Series 7 - General Securities Representative Exam

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If a customer has an account at a broker dealer with $500,000 in securities, and the broker-dealer goes bankrupt, the customer will receive

$250,000 in securities
A
$500,000 in securities
B
$250,000 in cash
C
$375,000 total - 250K in cash and 125K in securities
D
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Explanations

The customer has 500K worth of securities. SIPC covers up to $250,000 in cash and $500,000 in securities. This customer would be covered for $500,000 in securities.

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