Examkin

Soru

Zorluk: OrtaSIPC vs. FDIC Protection and Coverage Limits

A client's margin brokerage account at a SIPC-member broker-dealer undergoing liquidation holds 220,000incorporatebonds,220,000 in corporate bonds, 290,000 in uninvested cash, and $45,000 in commodity futures contracts. What is the total dollar amount protected by SIPC for this customer?

Cevap: 470000 USD

Cevap

$470,000
SIPC provides protection against broker-dealer failure up to 500,000perseparatecustomer,withcashcoveragecappedat500,000 per separate customer, with cash coverage capped at 250,000. Commodity futures contracts are not covered by SIPC. Therefore, coverage consists of 220,000incorporatebondsplus220,000 in corporate bonds plus 250,000 in cash (capped from 290,000),givingatotalprotectedamountof290,000), giving a total protected amount of 470,000.

Adım Adım Çözüm

1
Identify and exclude assets not covered by SIPC
Commodity futures contracts (45,000)receive45,000) receive 0 SIPC protection.
SIPC covers cash and securities; commodity futures, physical commodities, and fixed annuities are explicitly excluded from coverage.
2
Apply the SIPC cash sublimit
Cash protection is limited to $250,000.
SIPC caps cash coverage at 250,000perseparatecustomer,leavingtheremaining250,000 per separate customer, leaving the remaining 40,000 cash balance as an unsecured general creditor claim.
3
Calculate total eligible protection for cash and securities
220,000(bonds)+220,000 (bonds) + 250,000 (protected cash) = $470,000.
Securities are covered up to the overall SIPC coverage cap.
4
Compare total claim to overall SIPC maximum per customer
Total SIPC protection provided is $470,000.
The calculated total claim of 470,000doesnotexceedtheoverallSIPClimitof470,000 does not exceed the overall SIPC limit of 500,000 per separate customer.

Anahtar Kavram

SIPC Coverage Limits and Asset Eligibility
Bu soruyu puanla

Konular

SIPC vs. FDIC Protection and Coverage Limits

Bu konudan daha fazla soru