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FINRA Series 7

Category - Series 7

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Bubba’s pledge to purchase a specified dollar amount of a mutual fund within a specified period of time is called:

a promissory note
a letter of intent
an investment letter
a stock power

Explanation

Answer: B - a letter of intent. This accurately describes the definition of a letter of intent.

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FINRA Series 7

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FINRA Series 7

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