Question 71
Bubba buys "double-barreled" municipal bonds. What is the source of guaranteed repayment on these bonds?
- a specific municipal project plus a federal subsidy
- two specific municipal projects
- all projects of the issuing municipality
- one specific municipal project plus the full financial strength of the issuer
Question 72
Revenue bonds are least likely to provide constructions funds for:
- a toll highway
- an airport
- a public school
- a pollution control facility
Question 73
What percentage of maintenance charges and debt service are covered by the rate covenant of a revenue bond issued to finance a municipal toll road?
- 75%
- 100%
- 120%
- 150%
Question 74
Municipal bond brokers generally conduct the following:
- trade for dealer banks
- trade for non-bank dealers
- trade for their own account
- both A and B
Question 75
Smart Guys Securities Corporation has given a workable bid to Better Guys Securities Corporation. If market conditions change, Smart Guys may:
- not change the bid
- not change the bid unless first notifying the other dealer
- change the bid only with prior approval of the other dealer
- change the bid