1. From the investment banker’s point of view, the major reason syndicates are formed in the distribution of large issues is for the purpose of
improving the liquidity of the issue
improving the geographic distribution
reducing the underwriter's risk
improving brand recognition
2. The holding period to qualify for long-term capital gain is
at least 6 months
at leat 9 months
at leat 18 months
more than 1 year