Series 52: Out-firm Quote

Taken from our MSRB Municipal Securities Representative Qualification Examination

Definition of the term Out-firm Quote...

a bond quotation whose price is firm for a specified period, usually an hour, with a five-minute recall provision. The recall provision allows the party supplying the quote to force the other party to make a decision within a five-minute period or the quote will be withdrawn.

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Solomon Exam Prep Study Materials for the Series 52
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