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Which of the following statements is most CORRECT?

Which of the following statements is most CORRECT?
Answer In a private placement, securities are sold to private (individual) investors rather than to institutions.
Private placements occur most frequently with stocks, but bonds can also be sold in a private placement.
Private placements are convenient for issuers, but the convenience is offset by higher flotation costs.
The SEC requires that all private placements be handled by a registered investment banker.
Private placements can generally bring in funds faster than is the case with public offerings.

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