You Recently Purchased 100 Shares of Stock at a Cost

question 82

Multiple Choice

You recently purchased 100 shares of stock at a cost per share of $23.80. The initial margin requirement on this stock is 80 percent and the maintenance margin is 50 percent. The stock is currently valued at $17.90 a share. What is your current margin position? Ignore margin interest.

• A) 71.01 percent
• B) 71.83 percent
• C) 73.41 percent
• D) 73.69 percent
• E) 74.80 percent

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Definitions:

Leeches

Aquatic or terrestrial annelids that have a sucker at each end and are known for their ability to attach to and feed on the blood of animals.

Sandworms and Tubeworms

Diverse groups of worms, often marine, where sandworms usually refer to polychaete annelids and tubeworms can refer to several different taxa that live in protective tubes.

Trochophore Larva

A larval form found in mollusks and many polychaetes.

Petechiae

Tiny, round spots that appear on the skin due to bleeding under the surface, often indicative of a medical condition.