Series 53: Chapter Five

Taken from our Series 53 Online Guide

Chapter Five

Trading Municipal Bonds

(10 questions)

When municipal bonds are first issued and offered to the public, they are said to be sold in the primary market. Proceeds from sales in the primary market go to the issuing municipality. Once the new issue of municipal bonds has been sold, they are traded among investors in a highly fragmented over-the-counter market. This market is called the secondary market, and the proceeds from sales in the

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