24. When investment bankers underwrite a security, they usually guarantee purchase of the securities at a price for the selling firm. TRUE 25. The investment banker's major functions are performed as part of the operations of the secondary market. FALSE 26. Super Dot refers to the New York Stock Exchange's designated order transfer system that allows NYSE member firms to electronically transmit all market and limit order directly to the specialist at the trading post. TRUE 27. As a part of Dot, specialists are informed through (OARS) Opening Automated Report Service of market orders received before the opening bell. TRUE 28. Specialists and over-the-counter dealers, sometimes called market makers, buy and sell for their own account. TRUE 29. Secondary markets include only organized exchanges such as the NYSE and the regional exchanges. FALSE 30. The U.S. treasury often uses investment bankers to sell new issues of government securities. FALSE
24. When investment bankers underwrite a security, they usually guarantee purchase of the securities at a price for the selling firm. TRUE 25. The investment banker's major functions are performed as part of the operations of the secondary market. FALSE 26. Super Dot refers to the New York Stock Exchange's designated order transfer system that allows NYSE member firms to electronically transmit all market and limit order directly to the specialist at the trading post. TRUE 27. As a part of Dot, specialists are informed through (OARS) Opening Automated Report Service of market orders received before the opening bell. TRUE 28. Specialists and over-the-counter dealers, sometimes called market makers, buy and sell for their own account. TRUE 29. Secondary markets include only organized exchanges such as the NYSE and the regional exchanges. FALSE 30. The U.S. treasury often uses investment bankers to sell new issues of government securities. FALSE
Test-Bank-Fundamentals-of-Investment-Management-9th-Edition-Hirt.docx