Series 51: Chapter Two: Product Knowledge: Municipal Fund Securities

Taken from our Series 51 Online Guide

Chapter Two

Product Knowledge: Municipal Fund Securities

(16 questions, 27% of the exam)

A municipal fund security is a fund of securities that is issued by a state or municipality. Investments in a municipal fund may consist of a wide variety of securities, including corporate stocks and bonds and government securities of every stripe. It is not to be confused with a municipal bond fund, which is a mutual fund consisting entirely of municipal bonds. A municipal fund security i

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