TEST 1

Description:

Answer all five questions and then submit.
Please take the survey only once!

In a constrained open pricing IPO:

Institutional investors set the maximum and minimum price.
Investors are invited to bid within a constrained price range.
The minimum price is constrained but there is no maximum.
There is a maximum price but no minimum price.
None of the above.

Which of the following explanations of IPO underpricing is not true?

The investment bank wants to avoid a lawsuit.
The firm wants to provide a signal to raise funds later again.
Investment bankers want to reduce marketing costs.
The winner’s curse causes uninformed investors to withdraw from the market.
None of the above.

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