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FINRA Series 7

Category - Series 7

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Smart Guys Securities Corporation has given a workable bid to Better Guys Securities Corporation. If market conditions change, Smart Guys may:

not change the bid
not change the bid unless first notifying the other dealer
change the bid only with prior approval of the other dealer
change the bid

Explanation

Answer: D - change the bid. A workable bid indicates a price level where a dealer is willing to negotiate business. It is not a firm bid and may be changed before becoming firm.

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FINRA Series 7

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