"A syndicate member places an order for a new issue municipal offering, that, if filled, will be placed in a municipal bond fund managed by that member. This order is:"

I)member-related"

IV)filled last, as public orders take precedence

Explanation:

This are the options for the question;

I. "member-related"

II. "non-member related"

III. filled first, as non-public orders take precedence

IV. filled last, as public orders take precedence

We were informed from the question that A syndicate member places an order for a new issue municipal offering, that, if filled, will be placed in a municipal bond fund managed by that member.

This order order for a new issues municipal offering should be

1)member-related"

2)filled last, as public orders take precedence.

It should be noted that as a syndicate is associated with underwriting IPOs and they are commercial or investment bank. And the municipal bonds is utilize in financing public projects .

answer; descriptive statistics;