Your Broker Requires an Initial Margin of $1,600 and a Maintenance

question 57

Multiple Choice

Your broker requires an initial margin of $1,600 and a maintenance margin of $1,100 on Treasury note futures. Treasury note futures contracts are based on a $100,000 par value and quoted in points and one-half of 1/32 of a point. You own one Treasury futures contract that had a closing settlement quote of 113'245 yesterday. Today, the settlement quote is 112'265. Your margin balance at yesterday's close was $1,200. All margin calls restore margin levels to their initial level. Will you receive a margin call based on today's settlement quote and if so, for what amount?

• A) no margin call
• B) call for $1,037.50
• C) call for $937.50
• D) call for $1,100
• E) call for $1,337.50

Understand the fundamental characteristics and components of wisdom.

Identify the role of long-term memory and working memory in expertise and decision making.

Recognize the barriers to effective decision making, including biases and fixedness.

Define and distinguish between creativity, intelligence, and expertise.

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