Series 7 - General Securities Representative Exam

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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 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
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
A short term note that is issued by the US government that is backed by the full faith and credit of the US government


( B ) describes BANs. ( C ) is a RAN. ( D ) Describes a T-note. The best answer is ( A )