The specialists' functions are all of the items listed in A, B, and C. In addition, specialiststrade in their own accounts.
7. The secondary market consists of A.transactions on the AMEX.B.transactions in the OTC market.C.transactions through the investment banker.
A and B.E.A, B, and C.The secondary market consists of transactions on the organized exchanges and in the OTCmarket. The investment banker is involved in the placement of new issues in the primarymarket.
8. The use of the Internet to trade and underwrite securitiesA.is illegal under SEC regulations.B.is regulated by the New York Stock Exchange.
decreases underwriting costs for a new security issue.D.increases underwriting costs for a new security issue.E.is regulated by the National Association of Securities Dealers.The SEC permits trading and underwriting of securities over the Internet, but has requiredfirms participating in this activity to take steps to safeguard investment funds. This form of underwriting is expected to grow quickly due to its lower cost.
9. Initial margin requirements are determined byA.the Securities and Exchange Commission.
the Federal Reserve System.C.the New York Stock Exchange.D.B and C.E.A and B