Exploring Municipal Bonds: A Course for Investors

Read the learning objectives and topics covered in this MuniEdPro® course. Log into MuniEdPro®.

Target Audience

  • Municipal securities investors
  • Broker-dealers
  • Registered investment advisers

Learning Objectives

At the end of this course learners will be able to:

  • Understand the key concepts and basics characteristics of investing in municipal bonds;
  • Distinguish between the types of municipal bonds and where you can go to get more information; and
  • Practice assessing the common types of risks involved with investing in municipal bonds.

Course Outline

1. Introduction
a. Exploring municipal bonds 
b. What are CUSIP numbers?

2. How Do Municipal Bonds Work?
a. Municipal bond timeline
b. Interest rate
c. Coupon
d. Maturity
e. Yield curve
f. Call option

3. Are Municipal Bonds Right for Me?
a. Articulate your investment goals
b. Basic types of municipal bonds
c. Calculating tax-equivalent yield equation

4. Where Do I Go for Information on Municipal Bonds?
a. Researching municipal bonds
b. Executing your transaction
c. EMMA®


5. How Do I Assess Risks Associated with a Municipal Bond?
a. Types of risks
i. Interest rate/price risk
ii. Call risk
iii. Reinvestment risk
iv. Liquidity risk
v. Credit risk
b. Risks associated characteristics
i. Investment goals and risk tolerance

6. How Do I Choose the Right Municipal Bond?
a. What to expect when working with an investment professional
b. Maximizing your time with an investment professional

7. What Happens When Circumstances Change?
a. Reassessing your investments
b. Examples

8. Assessment