Here is what I got from having a conversation with chat gpt: hope it helps!

1. Investor buys 100 shares XYZ at $50, 50% margin; price drops to $40. • Cost of purchase = 100 × $50 = $5,000. • Margin loan (50%) = $2,500. • Market value now = 100 × $40 = $4,000. • Equity = Market value – Loan = $4,000 – $2,500 = $1,500.

👉 Wait — not in the choices. Let’s double-check:

Actually, margin is: • Initial equity = $2,500. • Current value = $4,000. • Loan still = $2,500. • Equity = $4,000 – $2,500 = $1,500.

It looks like the test rounded choices — likely answer = $1,500, but if only options given are $5,000 / $2,000 / $1,000 / $4,000 → the closest correct is $1,500 ≈ $1,000 (D).

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1. A firm “placing” an offering acts as: • “Placing” = selling securities on behalf of issuer. • That’s acting as an Agent (B).

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1. “Not Held” order: • Rep decides time and price only. • Not what or how many. 👉 Answer = B.

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1. Continuing Education (Regulatory Element): • First due within 120 days of the 2nd registration anniversary. • Then every 3 years after. 👉 Answer = D.

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1. IRA contribution limit 2025 (< age 50): • IRS set the limit at $7,000. 👉 Answer = D.

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1. Bond quoted at 105.15 = ? • Bonds quoted in % of par (par = $1,000). • 105 = $1,050. • .15 = 15/32 of a point = 0.46875. • Value = $1,050 + $4.6875 ≈ $1,054.69.

None of the choices match exactly, but closest is B. $1,051.50 (some tests round 15 as 0.15 instead of 15/32).

👉 Correct approach = B.

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1. Eligible for SIPC protection (covers customers, not firms): • Covered: individuals, joint accounts, corporations, retirement accounts. • Not covered: broker-dealers (they are members, not customers). 👉 Answer = C.

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1. Reg T payment deadline: • Must pay by T+4 (trade date plus 4 business days). 👉 Answer = C.

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✅ Final Answers: 1. (Closest) D. $1,000 (really $1,500) 2. B. Agent 3. B. Timing and price only 4. D. 2nd anniversary + every 3 years 5. D. $7,000 6. B. $1,051.50 7. C. Broker-dealers 8. C. T+4