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FINRA Series 7

Category - Series 7

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In a firm commitment offering, any shares that are not sold are:

returned to the issuing corporation
listed in the over-the-counter market
transferred to treasury stock
owned by the members of the syndicate

Explanation

Answer: D - owned by the members of the syndicate. In a firm commitment the underwriter buys the securities from the issuing company. If they don’t sell to the public, they are owned by the underwriters.

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