Series 3 Practice Test 15

10 free Series 3 practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

Series 3 Practice Test 15Tutor mode

Question 1 of 10

Market Knowledge

A flour miller will buy 25,000 bushels of wheat in March and normally pays 10¢ over March futures. It buys 5 March wheat calls (5,000 bushels each) with a $6.20 strike at 14¢/bu. If the basis is as expected, what is the maximum net purchase price per bushel?