SIAA Margin Lending study plan

Define initial margin under Regulation T and state the 50% requirement for long purchases in your own words

Distinguish FINRA initial margin from FINRA maintenance margin and list the standard 25% long maintenance figure

Compute the initial margin deposit required for a specified long purchase amount and for a mixed cash-and-margin purchase

Identify which transactions are exempt from Regulation T and explain why each exemption exists

Build a one-page reference sheet mapping each rule to the regulator that issues it

Calculate equity, debit balance, and margin percentage for long margin accounts from a given set of trade facts

Apply the maintenance margin formula to determine whether an account is restricted or in a call

Explain how a Special Memorandum Account is created and how SMA differs from excess equity

Trace how an SMA balance changes after a gain, a withdrawal, and a subsequent loss in the same account

Solve at least ten SMA problems involving sales proceeds and unrealized gains

Compute buying power for long accounts including the effect of SMA and of a prior maintenance call

Explain the mechanics of a margin call notice: who issues it, timing, deposit deadline, and consequences of inaction

Draft the sequence of events for opening a margin account from application through first trade

List the disclosures and customer agreement elements required before margin trading begins

Describe the difference between a margin agreement, a hypothecation consent, and a loan consent

Classify a list of securities as margin-eligible or ineligible and justify each classification

Explain concentration limits and how a concentrated position affects marginability and house requirements

Describe substitution rules and the margin consequences of swapping collateral in an account

Compute the initial and maintenance margin for a short sale and explain the credit balance treatment

Explain the short sale mechanics that differ from long margin: locate, borrow, buy-in risk, and dividend obligation

Determine the exact price at which a long and a short account first falls below maintenance margin

Sequence the liquidation process: notification, cure period, forced sale, and account restrictions

Identify the risk controls a firm applies to margin accounts, including house calls and position limits

Explain how a short squeeze and a buy-in affect a short margin account's equity

Draft a plain-language customer explanation of why an account was liquidated

Explain how long options are treated for margin purposes and why listed long options generally require no margin

Compute margin requirements for a covered call and a cash-secured put

Compute margin requirements for a spread position and identify when spread treatment applies

Describe how short options interact with maintenance margin and assignment risk

Identify which option strategies are permitted in a margin account versus a cash account

List the records a firm must create and retain for margin accounts and identify the retention period

Describe the supervisory review process for margin accounts including exception reporting

Explain the compliance obligations around margin calls, extensions, and liquidation documentation

Identify the red flags of margin-related misconduct such as churning or unauthorized trading

Outline an internal audit checklist for a margin lending desk

Re-solve all previously missed calculation problems without notes and confirm accuracy

Complete a timed 60-question mixed-domain practice set and score it

Review every missed item and write a one-sentence rule statement for each

Recite the key numeric thresholds from memory: initial margin, maintenance margin, short maintenance, and SMA rules

Build a final one-page formula sheet covering equity, margin percentage, SMA, and trigger prices