There are bunch of terminologies being thrown around by different vendors and I remembered this on the actual FINRA exam questions. So, I am looking for a correction of my understanding.
Tax-exempt Municipal securities are basically Municipal Bonds, correct?
Hi @FoxMcCloud - good question! Yes, tax-exempt municipal securities are generally municipal bonds. However, keep in mind municipalities issue more than just bonds. For example - anticipation notes (e.g. TANs/RANs/TRANs/BANs/GANs) and variable rate demand notes/obligations are two examples of municipal securities not technically considered bonds.
Hope this helps! Please let me know if any other bits of terminology need clarification.