- CFA Exams
- CFA Level I Exam
- Topic 5. Equity Investments
- Learning Module 4. Overview of Equity Securities
- Subject 4. Investing in Non-Domestic Equity Securities
CFA Practice Question
______ ADRs are used to raise capital on the U.S. market.
A. Level I, II, and III
B. Level II and III
C. Only Level III
Explanation: New shares are not issued with Level I and II ADRs.
User Contributed Comments 1
| User | Comment |
|---|---|
| khalifa92 | level II & III both can be sold on exchanges but only level III can be used as public offering. |