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