Series 24: Penalty Bid

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term Penalty Bid...

a penalty imposed by the lead underwriter against a broker-dealer whose customer sells IPO shares right after buying them, put in place to keep the price of a newly issued security from declining.

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I studied for the Series 24 for two and a half months. I thank God for his grace passed on the first attempt. The exam simulator is superb, it's projection of readiness to sit for an exam is spot on. All the feedback I received on how difficult the test was proved to be very helpful. As a result I over studied and followed the recommended study plan step by step which was key. Thanks again Jeremy and team, Solomon exam prep is the best ;)

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Danny Klingler, Kestra Financial, Austin, Texas