Wally purchased a bond with a coupon rate of 6.3% for $1,050. Given this information which of the following is true?

The bond's current yield is 6.6%

Nothing can be inferred about the bond's YTM

The bond's YTM must be more than 6.3%

A bond issuer takes advantage of declining interest rates to issue new bonds in order to pay off a group of old bonds with a higher rate. The old bonds were secured, and are a year away from maturity. The issuer uses the proceeds from the new bonds to put enough money into escrow to completely pay off the old bonds. All of the following are true, except:

Holders of the old bonds retain a claim on the issuer's assets

The old bonds have been advance refunded

The old bonds have been defeased

The old bonds are likely to be rated AAA

Which of the following is a generic advertisement?

A billboard that reads "Do you know how you're paying for college? A 529 plan may be for you." followed by the name and address of the sponsoring broker-dealer

A pamphlet describing investment portfolios offered by an issuer

A billboard that reads "Do you know how you're paying for college? A 529 plan may be for you." followed by the name and address of the sponsoring broker-dealer

A banner ad that gives a brief overview of one investment portfolio

A research report comparing the performance of different investment portfolios offered by an issuer

Popperville has had a hard year. People are moving out of the area for greener pastures. A large revenue bond that paid for several toll roads to be built is not bringing in the amount of revenue that was expected. Popperville is not able to pay the interest due on the municipal bonds. Big Brokerage was an underwriter on the bond issue and is now a dealer of the bonds. Which of the following is true?

Popperville must report this event no later than 10 business days after the event occurred on a searchable PDF format on the MSRB’s EMMA website

Popperville must report this event no later than 24 hours after the event occurred on a searchable PDF format on the MSRB’s EMMA website

Big Brokerage must report this event no later than 10 business days after the event occurred on a searchable PDF format on the MSRB’s EMMA website

Big Brokerage must report this event no later than 24 hours after the event occurred on a searchable PDF format on the MSRB’s EMMA website

Concerning municipal bonds issued by the city of Baltimore, Maryland:

If you live in the state of Maryland, you will pay federal capital gains tax on any profits you realize when you sell the bonds

If you live in the state of Maryland, you will pay state tax on the interest you earn

If you live in the state of Virginia, you will not pay state tax on the interest you earn

If you live in the state of Maryland, you will pay federal capital gains tax on any profits you realize when you sell the bonds

If you live in the state of Virginia, you will not pay federal capital gains tax on any profits you realize when you sell the bonds

Series 52 Sample Quiz

MSRB Municipal Securities Representative Exam

Number of Questions	10
Time Duration	Untimed
Answer Feedback Instant validation and rationale
Percentage required to pass	70%

Start Test

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