Recently, You Sold 600 Shares of Stock for $17

question 69

Multiple Choice

Recently, you sold 600 shares of stock for $17.60 a share. The sale was a short sale with an initial margin requirement of 70%. The maintenance margin is 35%. The stock is currently trading at $18.80 a share. What is your current short position in this stock?

• A)$5,916
• B)$6,840
• C)$8,900
• D)$10,532
• E)$11,280

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Definitions:

Independent Contractors

Individuals or entities hired to perform specific tasks or services for a company under a contract, without being considered employees of the company.

Principal's Right

This term involves the legal entitlements that a principal (the person for whom an agent acts) holds, especially in matters of agency law, such as the right to direct the agent and be accountable for the agent's acts.

Agent's Performance

Refers to the manner in which an agent conducts their duties on behalf of a principal, typically in a business or legal context.

Subagent

An agent appointed by another agent with the approval of the principal to perform tasks under a delegated agency agreement.