QUESTION 14 In a firm commitment procedure, the majority of risk of the issue is borne by A. Credit rating agencies B. Underwriter Syndicate C. Issuing Firm D. Designated Market Maker QUESTION 15 The bid-ask spread for Gopple Inc. is 3 cents. This means A. Dealer makes 6 cents when they buy and sell a stock. B. DMM sells to investors at 3 cents more than yesterday's closing price C. The current price is 3 cents more than the opening price today D. An investor doing a stock round trip will lose 3 cents per stock QUESTION 16 Which of the following is NOT a mutual fund charge/fee A. 126-1 charges B. Back-End load C. Front-End load D. Prepayment fee