- CFA Exams
- CFA Level I Exam
- Study Session 14. Fixed Income (1)
- Reading 43. Fixed-Income Markets: Issuance, Trading, and Funding
- Subject 2. Primary and Secondary Bond Markets
CFA Practice Question
When a security is sold publicly for the first time it is traded on the ______ market, whereas all subsequent trades are traded in the ______ market.
B. primary; secondary
C. initial; stock
A. auction; secondary
B. primary; secondary
C. initial; stock
Correct Answer: B
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