CFA备考-典型例题典型例题_Equity-2017.pdfVIP

Equity 1. An investor opens a margin account with an initial deposit of $5,000. He then purchases 300 shares of a stock at $30. His margin account has a maintenance margin requirement of 30%. Ignoring commissions and interest, the price (in $) at which the investor receives a margin call is closest to: A. 19.05. B. 23.08. C. 23.81. Answer:A Determine the stock price at which the investor receives a margin call by solving for the critical stock price, P, as: [(#of shares x P)– Margin Loan] / (# of shares x P) = % of Maintenance Margin