Series 7 - General Securities Representative Exam
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Which of the following is classified as a Pattern Day Trader?
A client that has $30,000 in his cash account and makes 5 day trades in a rolling 5 day period
A
A client that has $20,000 in his cash account and makes 2 day trades in a rolling 5 day period
B
A client that has $7,000 in his cash account and makes 3 day trades in a rolling 5 day period
C
None of these
D
Explanations
PDT rules only apply to margin accounts