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FINRA Series 7

Category - Series 7

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Which of the following forms of underwriting is least likely for an offering of municipal bonds?

negotiated
competitive bid
firm commitment
best efforts

Explanation

Answer: D - best efforts. A best efforts deal least likely for a municipal securities offering. It is most often associated with small corporate stock or limited partnership offerings. Municipal securities are usually competitive bid or negotiated. Both of these types are firm commitment.

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FINRA Series 7

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FINRA Series 7

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