This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Municipal serial bonds are typically quoted on a yield-to-maturity (basis) basis, while term bonds are quoted in dollars. - MSRB rules require disclosing the 'yield to worst' on confirmations: yield to call for premium bonds and yield to maturity for discount bonds. - Accrued interest for municipal bonds is calculated based on a 30-day month and a 360-day year, accruing up to but not including the settlement date. - Customer confirmations must disclose the firm's capacity (agent or principal) and its compensation (commission, markup, or markdown). - MSRB Rule G-30 mandates that markups and markdowns must be fair and reasonable, based on factors like prevailing market price and transaction size, not a fixed percentage. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep