Series 10 Exam Question 10: Answer and Explanation

Question: 10

A wealthy customer has just made a purchase in his margin account. There are substantial assets in the account. The brokerage firm, as a courtesy to the client, may ignore a call for cash for up to:

• A. $1,000.
• B. $10,000.
• C. $5,000.
• D. $500.

Correct Answer: A

Explanation:

A firm may ignore a call for cash for up to $1,000.