Which One of the Following Is the Distinguishing Characteristic of a Municipal

question 25

Multiple Choice

Which one of the following is the distinguishing characteristic of a municipal bond fund?

• A)high-yield
• B)federally tax-free income
• C)mortgage backed
• D)short-term
• E)low quality

---

Definitions:

Overdraft Privileges

A banking service that allows a customer to withdraw more money than they have in their account, usually for a fee.

Spanish-Milled Silver Dollar

A widely recognized coin that was minted in the Spanish Empire following the introduction of the mechanical press, becoming an international standard for trade.

Pieces Of Eight

Historically referred to as Spanish dollars, these were silver coins that played a crucial role in world trade during the 17th and 18th centuries.

Fringe Lending

Lending practices occurring outside of traditional banking institutions, often associated with high-interest rates and less favorable terms for borrowers.