Series 7 - General Securities Representative Exam

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An investor is involved with ARS - Auction Rate Securities. He wants to sell the ARS. How does he sell his ARS position?

Sell them on the open market
A
Sell them at the next auction
B
Sell them directly back to the issuer
C
They cannot be sold
D

Explanations

ARSs cannot be sold on the open market. They can only be sold to another investor at the next auction