Fins Essay

8093 Words33 Pages
Chapter 03 Securities Markets Multiple Choice Questions 1. Underwriting is one of the services provided by _____. A. the SEC B. investment bankers C. publicly traded companies D. FDIC 2. Under firm commitment underwriting the ______ assumes the full risk that the shares cannot be sold to the public at the stipulated offering price. A. red herring B. issuing company C. initial stockholder D. underwriter 3. Explicit costs of an IPO tend to be around ______ of the funds raised. A. 1% B. 7% C. 15% D. 25% 4. Barnegat Light sold 200,000 shares in an initial public offering. The underwriter's explicit fees were $90,000. The offering price for the shares was $35, but immediately upon issue, the share price jumped to $43. What is the best estimate of the total cost to Barnegat Light of the equity issue? A. $90,000 B. $1,290,000 C. $2,390,000 D. $1,690,000 5. A red herring becomes a prospectus when ____. A. the preliminary registration statement is approved by the SEC B. the IPO is complete C. the offering is seasoned D. the lockup period expires 6. Private placements can be advantageous rather than public issue because ______. I. private placements are cheaper to market than public issues II. private placements may still be sold to the general public under SEC Rule 144A III. privately placed securities trade on secondary markets A. I only B. I and III only C. II and III only D. I, II and III 7. A level _____ subscriber to the NASDAQ system may enter bid and ask prices. A. 1 B. 2 C. 3 D. 4 8. Which one of the following statements about IPOs is not true? A. IPOs generally underperform in the short run. B. IPOs often provide very good initial returns to investors. C. IPOs generally provide superior long-term performance as compared to other stocks. D. Shares in IPOs

More about Fins Essay

Open Document