Series 7 - General Securities Representative Exam
Preview Mode
Which of the following BEST describes TANs?
A short-term note issued by a city to finance a project that will be repaid with near term tax receipts
A
A short term note issued by a county that are used to fund a project launch that is repaid using funds from a later bond issue
B
A short term note issued by a town that is used to finance a project and the income form that project provides the income to repay creditors
C
A short term note that is issued by the US government that is backed by the full faith and credit of the US government
D
Explanations
( B ) describes BANs. ( C ) is a RAN. ( D ) Describes a T-note. The best answer is ( A )