Series 7 - General Securities Representative Exam
Josephine shorted 1000 shares of SNNN stock at an average price of $60. What is the credit balance in her margin account?
The short sale will bring in $60,000 into her margin account. Per Reg T, she has to deposit 50% into her account. This means $30,000 will be credited to her account on top of the $60,000 bringing the total credit balance to $90,000