Municipal Bond Topics and Gov't Agency Securities

FINRA FINRA Series 7
1

Hello! Can you please provide insight on the below topics from the FINRA outline? I was unable to find them in the textbook.

  1. Pricing of municipal securities and other mathematical calculations: dollar price,
  2. accrued interest (regular coupon, odd first coupon),
  3. relationship of bond prices to changes in maturity
  4. Pricing of coupon
  5. in default
  6. Federal Income Tax Status
    7.state and local tax status
  7. Characteristics for Gov’t Agency Securities: types, maturities, denominations, primary dealers, distribution, issue form, quotations, passthrough, calculating a spread, pricing, payment of interest and principal
1 Like
2

Hi, most of these topics are where you’d expect to find them. For instance, you can find information on accrued interest in our chapter titled Accrued interest.

I’d encourage you to browse the textbook chapter menu or use our search functionality to look up keywords!

4

Hi Justin, I used the search feature and did not have luck finding the information. Do you happen to have links for these topics in the textbook? Thanks!

1 Like
5

Hi @Shannon_Ankunding, what are you searching? It would be helpful to understand what you’re looking for so we can ensure the results are relevant.

In my experience, straightforward searches get the best results.

For example, try these terms:

  • accrued interest
  • maturity
  • income tax
  • passthrough
6

I am searching for the keywords such as dollar price, regular coupon, odd first and not having any luck finding the information. Links to the content or chapter names would be helpful. Thank you!

1 Like
7

Hi @Shannon_Ankunding, here are a few more links, as well as the one I sent previously, which specifically covers your query on accrued interest.

Accrued interest - Accrued interest | Trading | Bond fundamentals | Achievable Series 7

Municipal Debt - Review | Municipal debt | Achievable Series 7

US government debt - Review | US government debt | Achievable Series 7

Our chapters are titled almost the same as the wording you’ve copied. Please just spend a moment to take a look!

1 Like
8

Hi Shannon, Investopedia has good definitions for the terms “dollar price” and “odd first coupon.” The concepts themselves are covered in the Achievable material, but I don’t think those terms aren’t specifically mentioned. The other items from the FINRA outline are more concepts than specific terms, so those are covered in the chapters cited. For instance, #6 and #7 as they relate to muni bonds are covered in Chapter 5 (specifically 5.1 Review). For #5, a search for “default” will show you several places where it’s discussed (for munis, 5.2.5 and 5.6.2).

1 Like