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CPFO DEBT EXAM PRACTICE QUIZ TEST QUESTIONS AND ANSWERS
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CPFO DEBT EXAM PRACTICE QUIZ TESTQUESTIONS AND ANSWERS
If it is not allowable to enter into swap transactions related to an entity's debt,
where would that be stated?
A. Debt Policy
B. Continuing Disclosure Agreement
C. Tax Certificate
D. Underwriter's Agreement
A. Debt Policy
What should be included in an entity's debt policy?
A. debt issuance process
B. managing the debt portfolio
C. guidelines for structuring
D. all of the above
,D. all of the above
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Which of the following CANNOT be consistent with a downward sloping yield
curve?
A. Investors expect inflation to be higher in the future.
B. Investors expect inflation to be lower in the future.
C. Interest rates move higher in the future
,D. Interest rates move lower in the future.
B. Investors expect inflation to be lower in the future.
Which of the following is TRUE about LIBOR?
A. LIBOR is irrelevant to municipal securities
B. LIBOR only applies to swap contracts aligned with municipal securities
C. LIBOR can not be referenced in new and needs to be phased out of existing
financing contracts
D. governments can not issue bonds unless they have a contract with LIBOR
C. LIBOR can not be referenced in new and needs to be phased out of existing
financing contracts
Do all governments have the same levels of debt capacity?
A. Yes, every government must maintain a debt capacity of less than 7%
B. No, each government determines for themselves the appropriate level of debt
capacity consistent with state law
, C. No, debt capacity amount is established by a rating agency
D. No, federal law sets the amount of debt capacity for every issuer
B. No, each government determines for themselves the appropriate level of debt
capacity consistent with state law
What is the most important characteristic of a GO bond?
A. Typically is backed by the full faith and credit of the government and its
taxing authority
B. Typically does not require voter or elected body approval
C. Are restricted to a specific amount set annually by the federal government
D. Always are issued via a competitive sale
A. generally is supported by the full faith and credit of the government and its
taxing power
The following are all related to a revenue bond deal EXCEPT a:
A. full faith and credit pledge.
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