Series 7

Series 7 practice questions, page 16 of 16, with answer review and explanations.

Question 76

Municipalities are most likely to issue notes for which of the following purposes?

  1. short-term cash needs
  2. federal income tax payments
  3. repairs to infrastructure
  4. long-term financing

Question 77

A revenue bond is issued by a state agency. The state legislature is granted authority to apportion money to support the debt services if necessary, but is not legally obligated to do so. What type of bond is this?

  1. limited tax
  2. double-barreled
  3. Series 8
  4. moral obligation

Question 78

A group net order is one that benefits municipal syndicate members:

  1. equally
  2. according to their percentage participation in the account
  3. according to the number of designated orders they’ve received
  4. according to the number of presale orders they’ve received