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FINRA Series 7

Category - Series 7

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Municipal syndicate allocation procedures are described in which of the following?

underwriting agreement
syndicate account letter
agreement among the underwriters
official statement

Explanation

Answer: 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.

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FINRA Series 7

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