The term “secondary market” refers to:
Answer(s): B
trading in outstanding issues. Secondary market transactions involve trading in securities after the original issue is made. When an issuer offers new securities to the public it is a “primary offering”.
An issuer is most likely to request an investment letter from the purchaser in connection with which of the offerings?
Answer(s): C
a private placement. Normally, private placements are conducted with an investment letter.
In the distribution of a new issue underwriters or selling group member are prohibited from:
withholding blocks of a new issue in the member’s account. Underwriters and selling group members are prohibited from keeping blocks of a new issue for their own accounts.
The general purpose of the Securities Act of 1933 is to:
provide for disclosure of information about new securities offerings. The 1933 act is primarily concerned with registration and disclosures relating to new securities.
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