- CFA Exams
- CFA Level I Exam
- Topic 5. Equity Investments
- Learning Module 39. Overview of Equity Securities
- Subject 4. Investing in Non-Domestic Equity Securities
CFA Practice Question
______ ADRs are intended to be purchased by qualified institutional buyers only.
A. Level II
B. Level III
C. Rule 144A
Explanation: Rule 144A ADRs are used to raise money from private institutional buyers.
User Contributed Comments 2
| User | Comment |
|---|---|
| Josh_K | I always thought that private buyers are the opposite of institutional buyers |
| alexa821 | me too.. |