Municipal syndicate allocation procedures are described in which of the following?
Answer(s): B
syndicate account letter. This letter is sent by the manager of a competitive bid syndicate to the other members. The priority and other procedures, including allocation amounts, are specified in the letter. Members signify acceptance by signing the letter and returning it to the manger.
What expression is used to describe the application of income and revenues derived from the operation of a facility financed from proceeds of a revenue bond?
flow of funds. This is the definition of the term flow of funds.
In the distribution of a new issue, a dealer acting as an underwriter is said to have a:
Answer(s): D
firm commitment. The term underwriting means a guarantee to the issuing corporation. This is a firm commitment, unlike a best efforts offering where there is no guarantee.
In a best efforts distribution of a new non-exempt issue, a broker/dealer:
acts as an agent for the issuer. In a best efforts offering the investment banker acts as an agent for the issuer and makes no guarantee about selling the securities.
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