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Bubba has a short margin account with a short market value of $22,000, a credit balance of $42,000, and SMA of $500.
What is the NYSE minimum equity maintenance for this account?
$6,600. The NYSE maintenance requirement on short margin accounts is 30%. Multiplying the short market value of $22,000 by 30% equals $6,600.
Which of the following statements about mutual fund fees is accurate?
the management group receives a fee based upon the amount of assets in the fund. The management fee is based upon the fund's assets. The sale charge in choice C is received by the fund sponsor (underwriter), which could include the management group but not necessarily.
A corporation makes a rights offering to raise $10 million of new capital by issuing one million shares of common stock. If it already has six million shares outstanding at the time of the offering.
What is the subscription price per share?
$10. There are one million shares divided into the $10 million of new capital.
Which of the following statements is pertinent to closed-end investment companies?
their shares are traded at prices determined in the open market. The other choices describe open-end investment companies.
Which of the following does not appear in a municipal syndicate letter to underwriters?
the specific bid and offering terms of the issue. The bid and offering terms are determined after the syndicate letter to underwriters.
