tag:blogger.com,1999:blog-3651796241613367517.post488238921736621865..comments2023-05-20T02:43:04.603-05:00Comments on Passing the Series 7 exam: Gift tax rulesUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3651796241613367517.post-60765915532373500542009-02-05T09:49:00.000-06:002009-02-05T09:49:00.000-06:00Hi, Daniel.My advice is to view the "real world" v...Hi, Daniel.<BR/><BR/>My advice is to view the "real world" versions here, as opposed to memorizing bullet points that have no real meaning to you. Go to www.bondbuyer.com and poke around . . . you can get a FREE 2-week subscription to it, and there are many testable points in there. I have about a dozen issues in my office, and I like to see the actual "visible supply" or "placement ratio" or "results of competitive bids," etc. published there. The "Bond Buyer" is just a newspaper/website that municipal underwriters and city/state financial professionals would read. It has news on tax law changes, new issues coming to the market, regulatory issues, etc.<BR/><BR/>I also have a preliminary official statement here for the City of New York, who was offering just under $1 billion dollars of bonds at the time. There is red text at the top alerting me that more information may be added (just like a red herring for stock). The official statement is prepared by NYC and it discloses their budget, their financial condition, the tax treatment of the bonds, etc. You could probably request an official statement from your city/county/state for a past or current bond offering.<BR/><BR/>Munifacts is/was a wire service. Pretty sure it's defunct now, replaced by the MSRB's Real-time Transaction Reporting System (“RTRS”) covered by Rule "G-14." You can view that rule at www.msrb.org under "rules, forms, and glossary." Use that glossary, too. Why trust anyone to read what you can read yourself?<BR/><BR/>Also, note that an "official notice of sale" is an announcement that an issuer publishes in the Bond Buyer to attract underwriters. The "official statement" is the disclosure document delivered with the bonds to investors. In other words, the two things have NOTHING to do with each other and are used at different stages of the process.B Walkshttps://www.blogger.com/profile/13428079363476989854noreply@blogger.comtag:blogger.com,1999:blog-3651796241613367517.post-15733614014124279172009-02-04T20:18:00.000-06:002009-02-04T20:18:00.000-06:00Hello.First of all, thank you for all of your help...Hello.<BR/>First of all, thank you for all of your help. Your textbook is great! I just hope I can pass on the first try. <BR/>There is something I am confused about. It doesn't have to do with gift taxes. I'm having trouble finding the difference among these terms: Bond Buyer, Munifacts, Official Statement. I always get these wrong when taking a practice exam. It would be great if you can clear this up. <BR/>Again, thank you. <BR/><BR/>_DanielDaniel Jinsub Leehttps://www.blogger.com/profile/18083813918922576142noreply@blogger.com