Exercise

Fill in the blank.

1. The _____ is known as the “People Act.”

2. The _____ is known as the “Paper Act.”

3. The _____ created the MSRB.

4. The _____ created the title of municipal advisor.

Answer true or false.

5. True or false. The anti-fraud provisions of the Securities Acts apply only to municipal securities sold in the secondary market.

6. True or false. MSRB rules are guidelines that do not have the force and effect of federal law.

7. True or false. Municipal fund securities are exempt from the registration requirements of the Securities Act of 1933 as “exempted securities.”

8. True or false. The MSRB does not h