Ch 20: Municipal Securities Analysis & Regulations

About This Chapter

This chapter can aid you in thoroughly reviewing concepts related to municipal bonds and general obligations, including calculations of dollar price and yield. Use these lessons and quizzes to study for a test or build your professional skills.

Municipal Securities Analysis and Regulation - Chapter Summary

Within this chapter, individuals who are studying for examinations in the securities industry can review concepts related to municipal securities analysis and regulation. Topics include analyzing and calculating revenue from bonds and other municipal investments. After working through the material, you should have the confidence to:

  • Analyze and diversify municipal securities based upon geographical factors and rating
  • Explain general obligation and revenue bonds
  • Calculate dollar price of municipal securities, taking a range of factors into account
  • Discuss various type of yield calculation for municipal securities
  • Assess regulations and MSRB rules for municipal securities
  • Detail how these securities are taxed

You will find the lessons contained in this chapter to be practical and to break down the material into manageable amounts. Frequent practice with worksheets and lesson quizzes can help you to make progress towards your exam goals.

9 Lessons in Chapter 20: Municipal Securities Analysis & Regulations
Test your knowledge with a 30-question chapter practice test
Municipal Investments: Analysis & Diversification

1. Municipal Investments: Analysis & Diversification

In this lesson, you'll learn about the diversification of municipal investments using different municipal securities. We'll explain how to diversify the municipal investments on the basis of geographical location, type, and ratings.

Analyzing General Obligation Bonds

2. Analyzing General Obligation Bonds

Municipal bonds are debt instruments issued by public entities like states, cities, and counties to raise capital. The most common type of municipal bonds are general obligation bonds.

Analyzing Revenue Bonds Using Market Indicators

3. Analyzing Revenue Bonds Using Market Indicators

Revenue municipal bonds are the second biggest source of funding for governmental entities. However, revenue bonds are unique in that the bonds are used to fund a project that will generate the revenue to pay off the bonds.

Pricing of Municipal Securities: Calculations & Examples

4. Pricing of Municipal Securities: Calculations & Examples

The lesson deals with the valuation of municipal securities. You'll learn how to calculate dollar price, accretion of discount and coupon prices of municipal securities.

How to Calculate Interest for Municipal Securities

5. How to Calculate Interest for Municipal Securities

State and local governments issue municipal securities to raise funds. This lesson discusses how to calculate interest on these securities including odd first payments, basis points, and amortization of premiums.

Yield Calculations for Municipal Securities

6. Yield Calculations for Municipal Securities

The lesson deals with different yield measures for municipal bonds. You'll learn how to calculate the yields and adjust the yields for tax rate and for the call option.

Municipal Securities Regulations: Prices, Commissions & Quotes

7. Municipal Securities Regulations: Prices, Commissions & Quotes

This lesson deals with MSRB rules related to municipal securities. Learn about MSRB rules D-12 (Definition of Municipal Fund Securities), G-13 (Quotations Related to Municipal Securities), and G-30 (Prices and Commissions).

MSRB Rules Related to Mutual Securities

8. MSRB Rules Related to Mutual Securities

Rule D-12 was added by the Municipal Securities Rulemaking Board (MSRB) in 2000 to provide regulations for municipal fund securities and to establish reporting requirements as defined by Form G-45. This lesson provides an overview of MSRB Rules D-12 and G-45.

Tax Treatment of Municipal Securities

9. Tax Treatment of Municipal Securities

In this lesson you will learn about characteristics of taxable bonds, municipal bonds and their tax treatment, other taxable situations, and exceptions.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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