Series 7 - General Securities Representative Exam
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Which of the following is TRUE of an Underwriter Syndicate?
It is a temporary group of investment banks and broker-dealers who come together to sell new offerings of equity securities to investors
A
It acts as an intermediary between a buyer and seller and seeks to ensure that the process from trade inception to settlement is smooth
B
It is a dealer in securities or other assets who undertakes to buy or sell at specified prices at all times
C
It helps to maintain a fair and orderly market on a securities trading exchange
D
Explanations
The other terms define a clearing firm, a market maker, and a specialist