Please try and answer all the questions Thanks!

A revenue bond is backed by a pledge of net revenues. This indicates that:

a.All revenues are pledged to pay debt service on the bonds

b.Net revenues are pledged to pay operating and maintenance expenses

c.The first use of net revenues is to pay the debt service on the bonds

d.The issuer guarantees that net revenues from the facility will be sufficient to pay debt service on the bonds

A grant anticipation note is normally paid from:

a.Proceeds from the issuance of long-term bonds

b.Funds received from the federal government

c.Revenues received at a future date

d.Receipts of future property taxes

Which of the following municipal bonds requires a feasibility study to determine the issuer's ability to pay interest when due?

a. A special tax bond

b. A general obligation bond

c. A revenue bond

d. A revenue anticipation note

A municipal bond that is issued at par is later purchased at a discount and redeemed for par at maturity. The investor's profit on the transaction is taxed as:

a.Capital gains

b.Ordinary income

c.Tax-deferred interest

d. Tax-deferred capital gains

A state agency revenue bond does not have sufficient revenue to meet debt service. A provision of the indenture allows the agency to request funds from the state legislature. The legislature has the option of providing or not providing the additional funds. This is a:

a.General obligation bond

b.Double-barreled bond

c.Special tax bond

d.Moral obligation bond

Which of the following statements regarding the opening of a new municipal account is NOT TRUE according to MSRB rules?

a.An employee of a municipal securities firm may open a new account with another municipal securities firm without notifying his employer

b.An employee of a municipal securities firm may open a new account with another municipal securities firm as long as duplicate confirmations are sent to the individual's employer

c.A bond attorney may open a new account without restriction

d.An officer of a municipal issuer may open a new account without restriction

When a municipal bond is issued as an original issue discount, the upward adjustment in the purchase price is called:

a.Accretion

b.Amortization

c.Depreciation

d.Depletion

A double-barreled security is a municipal security that:

a.Is exempt from federal and state taxes

b.Is exempt from state and local taxes

c.Can be paid from the revenues of a project and is a general obligation of the U.S. government

d.Can be paid from the revenues of a project and is a general obligation of a municipal government