Exhibit 3.1 USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM Jackie has a margin account with a balance of $150,000. The initial margin deposit is 60 percent and Turtle Industries is currently selling at $50 per share. Refer to Exhibit 3.1. How many shares of Turtle can Jackie purchase? a. 750 b. 5,000 c. 3,000 d. 1,200 e. 1,800 What is the standard deviation of an equally weighted portfolio of two stocks with a covariance of 0.009, if the standard deviation of the first stock is 15% and the standard deviation of the second stock is 20%? a. 14.7% b. 2.1% c. 7.8% d. 14.2% e. 2.0%