1. (TCO E) The Securities Investor Protection Corporation insures brokerage firm accounts up to (Points : 4)

$500,000 per account and $250,000 in cash. $250,000 per account and $100,000 in cash. $1,000,000 per account and $500,000 in cash. $500,000 per account and $250,000 in cash. $500,000 per account and $100,000 in cash.

Question 2.2. (TCO E) Which of the following would not be a true statement about short sales? (Points : 4)

Short selling is done in anticipation of a bull market in the security. A short sale can only take place if the last price change was positive. Short sellers cannot use the sale proceeds until the sale is covered. Short sellers must have a margin account. Stock certificates must be borrowed for delivery to the buyers.