An investor maintains four separate accounts at a broker-dealer undergoing SIPC liquidatio… — FINRA SIE (Securities Industry Essentials)

An investor maintains four separate accounts at a broker-dealer undergoing SIPC liquidation:

1. An individual cash account containing $320,000 in cash and$ 180,000 in equity securities.
2. A joint account with their spouse holding $350,000 in corporate bonds and$ 150,000 in cash.
3. A traditional IRA holding $550,000 in mutual fund shares. 4. A commodity futures account with$ 75,000 in cash dedicated strictly to futures trading.

Calculate the total dollar amount of SIPC coverage provided across all four accounts.

Cevap: 1430000 $

Cevap

The total SIPC coverage provided across all four accounts is $1,430,000.

SIPC provides protection of up to

500,000 per separate customer capacity, including a maximum sub-limit of

250,000 for cash claims. Individual accounts, joint accounts, and IRAs represent distinct customer capacities. In Account 1, cash is capped at

250,000 (leaving

70,000 unprotected), while securities (

180,000) are fully covered, totaling

430,000. Account 2 is fully covered at

500,000. Account 3 is capped at the maximum

500,000 limit (leaving

50,000 in securities unprotected). Commodity futures accounts are not protected by SIPC (

0 coverage). The total protection is

430,000 +

500,000 +

500,000 +

0 = $1,430,000.

Adım Adım Çözüm

Determine coverage for Account 1 (Individual Account)

$430,000 protected

SIPC covers up to

500,000 per separate customer, but cash is subject to a

250,000 sub-limit. Out of

320,000 cash, only

250,000 is covered, plus the full $180,000 in securities.

Determine coverage for Account 2 (Joint Account)

$500,000 protected

Joint accounts are separate customer capacities. Cash of

150,000 is below the

250,000 cash sub-limit, and total assets equal the $500,000 maximum overall cap.

Determine coverage for Account 3 (Traditional IRA)

$500,000 protected

IRAs count as separate customer capacities. The total securities claim of

550,000 is capped at the overall SIPC limit of

500,000.

Determine coverage for Account 4 (Commodity Futures Account)

$0 protected

SIPC protection extends only to cash and securities; commodity futures contracts and related cash balances are excluded from coverage.

Aggregate total protected amounts across all accounts

$1,430,000 total coverage

Summing the individual account protection totals:

430,000 +

500,000 +

500,000 +

0 = $1,430,000.

Anahtar Kavram

SIPC Protection Limits & Separate Customer Registration Capacities

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