GR17 Exam Questions and Answers

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GR17 - Market Pricing - Conducting a Competitive Pay Analysis

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NEW QUESTION: 1
A revenue bond is issued by a state agency. The state legislature is granted authority to apportion money
to support the debt services if necessary, but is not legally obligated to do so. What type of bond is this?
A. moral obligation
B. Series 8
C. limited tax
D. double-barreled
Answer: A
Explanation:
moral obligation. The lack of a legally binding obligation removes the issue from the general
obligation category. Although defaults are possible, it is usually held that no state legislature would allow
a moral obligation issue to default.


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