FINRA Series 7

Category - Series 7

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Which of the following does not appear in a municipal syndicate letter to underwriters?

the specific bid and offering terms of the issue
the amount of each member’s participation
the extent of the manager’s authority in directing the offering
the duration of the syndicate account

Explanation

Answer: A - the specific bid and offering terms of the issue. The bid and offering terms are determined after the syndicate letter to underwriters.

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