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FINRA Series 7

Category - Series 7

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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

Explanation

Answer: D - one specific municipal project plus the full financial strength of the issuer. Double-barreled bonds are first payable from a specific project, but are further guaranteed by the issuing municipality.

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FINRA Series 7

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FINRA Series 7

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