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FINRA Series 7

Category - Series 7

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What percentage of maintenance charges and debt service are covered by the rate covenant of a revenue bond issued to finance a municipal toll road?

75%
100%
120%
150%

Explanation

Answer: C - 120%. The toll facility usually sets rates to cover 120% of maintenance and debt service.

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FINRA Series 7

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FINRA Series 7

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