Examkin

Soru

Zorluk: OrtaSIPC vs. FDIC Protection and Coverage Limits

An investor maintains an individual account at Apex Securities, a SIPC-member broker-dealer currently undergoing financial liquidation. At the time of liquidation, the account holds 190,000inexchange−listedstocks,190,000 in exchange-listed stocks, 80,000 in corporate bonds, 210,000inuninvestedcashheldforpurchasingsecurities,210,000 in uninvested cash held for purchasing securities, 45,000 in commodity futures contracts, and $35,000 in a fixed annuity contract. What is the total dollar amount protected by SIPC for this account?

Cevap: 480000 $

Cevap

The total dollar amount protected by SIPC for this account is $480,000.
SIPC provides protection up to 500,000totalperseparatecustomer,includingamaximumof500,000 total per separate customer, including a maximum of 250,000 for cash claims. In this scenario, the investor has 270,000incoveredsecurities(270,000 in covered securities ( 190,000 stocks + 80,000bonds)and80,000 bonds) and 210,000 in cash. Because the 210,000cashbalanceisunderthe210,000 cash balance is under the 250,000 cash cap, the entire cash balance is protected. The total claim is 270,000+270,000 + 210,000 = 480,000,whichisbelowtheoverall480,000, which is below the overall 500,000 maximum cap. Commodity futures (45,000)andfixedannuities(45,000) and fixed annuities ( 35,000) are not covered by SIPC.

Adım Adım Çözüm

1
Categorize account assets as covered or non-covered under SIPC protection rules.
Stocks (190,000),bonds(190,000), bonds ( 80,000), and cash (210,000)arecovered.Commodityfutures(210,000) are covered. Commodity futures ( 45,000) and fixed annuities ($35,000) are non-covered exclusions.
SIPC protects equity and debt securities as well as cash balances intended for purchasing securities, but excludes commodities, futures contracts, and insurance products such as fixed annuities.
2
Calculate the total value of covered securities.
190,000+190,000 + 80,000 = $270,000.
SIPC covers securities claims up to the overall account limit.
3
Apply SIPC cash protection limits to the cash balance.
210,000cashbalanceisfullyeligible(since210,000 cash balance is fully eligible (since 210,000 is less than or equal to the $250,000 cash sub-limit).
SIPC covers up to $250,000 for cash claims as part of the overall protection limit.
4
Sum protected securities and protected cash, and verify against the $500,000 maximum overall SIPC limit.
270,000+270,000 + 210,000 = $480,000 total protection.
The calculated total of 480,000doesnotexceedthemaximumtotalSIPClimitof480,000 does not exceed the maximum total SIPC limit of 500,000 per separate customer.

Anahtar Kavram

SIPC Coverage Limits and Exclusions
Bu soruyu puanla

Konular

SIPC vs. FDIC Protection and Coverage Limits

Bu konudan daha fazla soru