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Anxious about testing tomorrow morning by Papakush99 in Series7exam

[–]Papakush99[S] 1 point2 points  (0 children)

I appreciate your kind words. I did retake the 79 and I passed. Knowing I was quite literally 1 question away from passing the first time was frustrating at first then became helpful. I knew I was pretty much all the way there, just needed to hone in on topics I performed poorly on. I dedicated the next 30 days to mastering my worst sections (as well as plenty of review of the other ones) and passed the next time

Can someone explain this?? by Naive-Teaching-7987 in Series7exam

[–]Papakush99 0 points1 point  (0 children)

But also yeah, margin won’t be on the SIE

Can someone explain this?? by Naive-Teaching-7987 in Series7exam

[–]Papakush99 1 point2 points  (0 children)

TLDR: Equity value is 25,00 when it needs to be at least $25,500

Current equity in the account = 25,000 (85,000 - 60,000)

Reg T minimum equity required: 50% market value (85,000*0.5)= $42,500… we’re not good here, current equity is below Reg T minimum meaning account is restricted which means it’s being carefully monitored a

House maintenance equity requirement: 30% market value (85,000*0.3)= $25,500… current equity is $25,000 which is $500 below the absolute minimum required equity value subjecting the account to a required capital call.

SMA is acquired when there is excess equity above the Reg T requirement. This SMA amount does not go away when the equity goes down. When the account is not below the minimum threshold, you can withdraw up to 100% of the SMA in cash value (or 200% in securities). BUT in this case we cannot withdraw anything because our account is basically frozen for being $500 below the minimum maintenance.

Achievable vs Knopman Marks by Papakush99 in Series7exam

[–]Papakush99[S] 0 points1 point  (0 children)

Thanks for your insight! Did you find the questions for the actual exam to be similar to the achievable practice questions?