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FINRA Series 7

Category - Series 7

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If a municipality has funds available to make a partial call of an issue of outstanding serial bonds, which bonds should be called first?

the shortest maturity
the maturity with the largest number of bonds
the longest maturity
the maturity bearing the lowest interest rate

Explanation

Answer: C - the longest maturity. These bonds are called first because the municipality will save the interest costs for the longest period of time.

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FINRA Series 7

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FINRA Series 7

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