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