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GFOA Exam CPFO Topic 1 Question 20 Discussion

Actual exam question for GFOA's Certified Public Finance Officer exam
Question #: 20
Topic #: 1
[All Certified Public Finance Officer Questions]

As the security of Go debt issue, state and local governments pledge their Faith and credit (their general taxing power); however revenue bonds are not backed by full faith or credit. Instead, the bond security agreement pledges a _________, known as the debt cover.

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Suggested Answer: C

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