Practice Quiz

FINRA Series 7 Exam Prep

Category - Series 7

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Under a leaseback arrangement used to finance construction of local schools, who is the issuer of the municipal bonds?
  1. the state in which the schools are located
  2. the local school district
  3. a legal authority created for this purpose
  4. a public housing authority commissioned by the federal government
Explanation
Answer: C - a legal authority created for this purpose. Bonds with a leaseback arrangement are issued by a specially created entity.
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