Which of the following statements regarding municipal bonds is FALSE?

A) A single municipal bond issue will often contain a number of different maturity dates. Such issues are often called multi-muni bonds because the bonds are scheduled to mature over a multiple number of years.
B) Revenue bonds are where the local government pledges specific revenues generated by projects that were initially financed by the bond issue.
C) Municipal bonds are sometimes also referred to as tax-exempt bonds.
D) Bonds backed by the full faith and credit of a local government are known as general obligation bonds and are not as secure as bonds backed by the full faith and credit of the federal government.

A
Explanation: A) A single municipal bond issue will often contain a number of different maturity dates. Such issues are often called serial bonds because the bonds are scheduled to mature over a multiple number of years.