Series 7 Exam Prep 32, Municipal New Issues and Underwriting

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The difference between a competitive sale, used for most G.O. bonds, and a negotiated sale, common for revenue bonds. - Key information found in the Notice of Sale and the role of the Official Statement as the primary disclosure document. - The breakdown of the underwriter's spread into the manager's fee, total takedown, selling concession, and additional takedown. - The strict priority of orders for allocating bonds: Presale, Group Net, Designated, and Member, remembered by the mnemonic 'Pro Golfers Don't Miss'. - Common exam traps, such as identifying the largest single component of the spread and understanding the liability of selling group members versus syndicate members. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep