Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following municipal securities carries the full faith and credit of the US government for payment of interest and principal if the issuer’s funds are insufficient?
  1. general obligation bonds issued municipalities
  2. special tax bonds issued by municipalities
  3. revenue bonds issued by municipal port authorities
  4. new housing authority bonds issued by a public housing authority
Explanation
Answer: D - new housing authority bonds issued by a public housing authority. Only housing bonds are backed by the US government if municipalities are unable to meet the obligations for payment.
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