How much of the broker's own money can he keep in his trust fund?
a. $200
b. He cannot commingle his own funds with those of his clients. He must make arrangement with the bank for enough money in the account to cover service charges.
c. $100
d. $25
Answer: a. $200
You might also like to view...
A(n) ________ is a legal document that describes a securities issue and is made available to potential investors
A) disclosure statement B) offering contract C) prospectus D) tombstone E) none of the above
Tversky and Co. have devised a new psychological test for investors' risk tolerance. They expect to sell 10,000 tests in the first year at $150 each. Cash costs associated with producing, administering and scoring the test are $50 per unit
In the second year, volume is expected to be the same, but both the price and the costs will increase 2.5%. Forecast gross profit in the second year.