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Shortfall Placed a Market Order to Buy 100 Shares of Google

Question 314

Multiple Choice

Shortfall placed a market order to buy 100 shares of Google (GOOG) with GetErDone Broker-Dealers. The market order was executed at $530 a share. In accordance with Regulation T:


A) Mr. Shortfall must pay for the purchased shares within 3 business days.
B) Mr. Shortfall must pay for the purchased shares within 5 business days.
C) GetErDone can request an extension from FINRA or another SRO for Mr. Shortfall if he is unable to pay for the shares within 5 business days.
D) Both B and C are true statements.

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