I don’t know where to post this but I just needed to say ‘THANK YOU!!!’ I’ve been studying for my SIE for the few weeks and I JUST PASSED TODAY!!! I picked up so many tips from you in your videos! Thank you so much! Now onto the series 7 in a month!
Great Vid, but still got this practice question wrong after watching this vid. So many Exceptions to rules. My head is hurting. Exam is in 1 day. Been getting 72% on my practice tests. See the following question. I picked $0 but apparently when account is restricted, the rules are not the same. A customer's restricted margin account shows the following: LMV $30,000 DB $16,000 SMA $0 If the customer sells $2,000 of securities, how much could be withdrawn from the account? A) $1,000 B) $2,000 C) $15,000 D) $0 Explanation In this restricted account, half of the sales proceeds will be used to reduce the DB balance to $15,000 and half of the sales proceeds are released to the special memorandum account (SMA). Therefore, when $2,000 of stock is sold, $1,000 is credited to SMA. This is the amount that can be withdrawn from the account. (the right answer is A)
Dont sweat margin too much. But yes anytime cash comes into a restricted account SMA goes up by half Focus on getting equity and SMA in both long and short accounts plus combined (long and short ) The vendors like to ask margin questions that are usually way more complicated than the test asks
I literally spent all day reading the Kaplan chapter on Margin and you totally summarized it in 17 minutes... amazing! Thank you Ken!
Awesome !!! It’s over taught
I am on Kaplan now and it’s so confusing how they explain it hence why i’m here 😂
@@Series7Exam yup. The man deserves gumless HEAD from the tooth fairy.
Ty for ur help.
Same
I listen to you on my commute every day Ken! Thank you for the training!!!
Put it on speaker. Let’s annoy some people
@@Series7Exam for sure Ken!!
WOW! Margin never seemed so easy. Thank you
Mr. Desb - what a genius. Put it in the books!
I don’t know where to post this but I just needed to say ‘THANK YOU!!!’ I’ve been studying for my SIE for the few weeks and I JUST PASSED TODAY!!! I picked up so many tips from you in your videos! Thank you so much! Now onto the series 7 in a month!
Thanks for coming on the LIVE congrats!!
Passed the SIE with you, on to the 7. Thank you!!! Lets go baby!!!
Let’s gooo!!!!
Take this test again on the 23 thanks for the help sir!
You just fucking changed my world with this thank you
Haha. Love hearing that. Keep grinding
Thank you!!! This truly helped me!!
Ahh thank you! I think I get it now.
You are amazing !!! Thankyou!
Thanks Ken!
Ken, do you have a video on margins on options?
It’s not really a thing. I don’t have videos on that as hardly tested if at all
Remember when you buy an option you have to deposit the full premium
Ken do you think SMA will be basic on the 7 or really deep?
Very basic and not heavily tested
Great Vid, but still got this practice question wrong after watching this vid. So many Exceptions to rules. My head is hurting. Exam is in 1 day. Been getting 72% on my practice tests. See the following question. I picked $0 but apparently when account is restricted, the rules are not the same. A customer's restricted margin account shows the following:
LMV $30,000
DB $16,000
SMA $0
If the customer sells $2,000 of securities, how much could be withdrawn from the account?
A)
$1,000
B)
$2,000
C)
$15,000
D)
$0
Explanation
In this restricted account, half of the sales proceeds will be used to reduce the DB balance to $15,000 and half of the sales proceeds are released to the special memorandum account (SMA). Therefore, when $2,000 of stock is sold, $1,000 is credited to SMA. This is the amount that can be withdrawn from the account. (the right answer is A)
Dont sweat margin too much. But yes anytime cash comes into a restricted account SMA goes up by half
Focus on getting equity and SMA in both long and short accounts plus combined (long and short )
The vendors like to ask margin questions that are usually way more complicated than the test asks