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STC Series 7 Chapter 7 Exam 2025 With 100% Correct Answers
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42

August 2025

2025/2026

A+
A municipal bond with an 8% coupon and eight years to maturity is purchased for 106. If the bond is sold six years later, what will be its cost basis? A. 100 B. 101.50 C. 104.50 D. 106 - CORRECT ANSWERB. 101.50 When a bond is purchased at a premium (above par value), the premium must be amortized (reduced) over its life. The premium in this example is six points, which must be amortized over its 8-year life. It must be amortized 3/4 point each year (6 points divided by 8 years to maturity...
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