SERIES-6 practice question 13 of 35
Nat Informed places a market order to buy 200 shares of Abercrombie & Fitch (ANF) on Thursday, September 16th. When will Nat be required to pay for this Transaction?
Full set: 325 questionsCorrect Answer:
C. on Tuesday, September 21st.
Explanation
If Nat places an order to purchase 200 shares of Abercrombie & Fitch on Thursday, September 16th, payment will be due on Tuesday, September 21st. The settlement date for stock transactions is T + 3, which means the third business day after the trade. Saturday is not a business day.
Keep practicing
Take the free SERIES-6 practice test
Ten exam-style questions with answers and explanations, plus the exam facts and study guides.
More questions
Other SERIES-6 practice questions
- Question 1Which of the following pieces of information may not be contained in a tombstone advertis…
- Question 2Mr. Investor has purchased 100 shares of the common stock of the Everyman Corporation. As…
- Question 3Mr. Big of HiGrow Corporation needs more money to support the exceptional growth rate tha…
- Question 5The stock of Hasbro Corporation (HAS) is selling for $44.50 and pays a dividend of $1.00 …
- Question 6Any person who willfully acts in violation of the Securities Act of 1933, or any SEC rule…
- Question 7Which of the following statements regarding callable bonds is false?