SALES
How many times a week do you tell the traders that you're customers are mainly 'focused on new issue'?
What is an infinite amount?
Who is our #1 counterparty for taxable munis?
Who is Wasmer?
What is the proper ratio for a salesperson to pad their order on a new issue?
BUT CYNDI SAYS DONT
What is every 5 seconds everyday every year?
What is infinity?
What is 2x?
What is the BBG command to calculate the deminimus cutoff?
What is QTAX?
When you receive inquiry from your customer, and your trader has the perfect bond, but the customer still passes, what is that inquiry considered?
What is finquiry? (fun + inquiry = not real)
How many days before settlement should you start giving Al down bids on his note offerings?
What is 2 days?
How quickly after allotments come out do you yell/complain to UW & Sales Manager?
What is within 1 min?
You text your customer 'Happy Birthday & hope we can get some trades done soon'. What is this considered?
What is a texting violation?
These two bankruptcies of major US Issuers raised concerns about the safety of municipal bonds nationwide.
What is WPPS & Detroit?
What are the three exams now required to become a municipal salesperson at a brokerage firm?
What is SIE, Series 52, Series 63?
Customer buys 2% bonds, solving for two things - duration and what?
What is Convexity?
Name the banker who brought all the infamous GSA deals?
Who is Chris Morse?
When you move residences & update your address, what is the form you must ensure is up to date?
What is Form U4?
These events—like bond defaults or rating changes—must be reported within 10 business days under SEC rules.
What are material events?
Why do customers hate COPs?
What is because issuers have a choice of appropriating and that opens them up to risk?
Name the top 5 New York issuers of municipal debt.
What is -
TFA
Dorm Auth (DASNY)
NYC GO
MTA
NYC WTR
Name 4 of the Competitive Deals OPCO bought this year so far.
What is -
King Cnty WA
Frisco TX
Marblehead MA
Council Rock Sch PA
Warren, MI
If your best friend is running for the local school board, can you donate to their campaign fund?
What is Yes (up to $100) BUT DONT DO IT ANYWAY?
The roots of municipal bonds go back to the post-Revolutionary period. One of the earliest known issuances was by New York City in the early 1800s to finance a plethora of things. Name 3.
What are canals, roads and street improvements, sewers & sanitation, public buildings, docks and wharves, bridges, transportation, water supply systems?
This is what you have to pay when you bring a $5 million odd-lot deal to accounts managing billions.
What is a liquidity concession?
This MSRB rule requires dealers to deal fairly with all persons and prohibits deceptive practices.
What is Rule G-17?
This IRS concept limits how much of a bond issue can be used by private parties before losing tax-exempt status.
What is the private business use test?
These laws were created to regulate the sale of securities and protect investors from fraud at the state level.
What are The Blue Sky Laws?
This IRS yield restriction rule requires that proceeds from tax-exempt bonds not be invested at a materially higher yield than the bond’s yield, absent specific exceptions.
What is the arbitrage yield restriction?