Series-7 Exam Results

special tax. The other categories are not revenue bonds. Special tax is the only type that fits the general grouping.

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.

semi-annually. Investment companies are required to issue financial report semi-annually. Many do so more frequently.

they are not secured by collateral. Equity is ownership, which has no collateral security…or any other kind of security such as a guaranteed return, maturity, or marketability.