Series 10 Exam Question 57: Answer and Explanation

Question: 57

When considering investing in a municipal bond, the opinion stating it's a binding obligation of the issuer is issued by:

• A. The MSRB.
• B. The bond counsel.
• C. FINRA.
• D. The governor.

Correct Answer: B

Explanation:

The bond counsel issues the legal opinion, stating it is a legal binding obligation of the issuer.