BOND INSURANCE Definition

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BOND INSURANCE is insurance purchased by bond issuers to guarantee the timely payment of principal and interest, primarily for municipal bond issues. The Municipal Bond Investment Assurance Corp. (MBIA), Federal Guarantee Insurance Corp. (FGIC) and AMBAC Indemnity Corp. (AMBAC) are among the largest insurers. Insured bonds are rated AAA.

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REGISTERED INVESTMENT ADVISOR (RIA) is an investment advisor registered with the SEC. No certification is required.

MBE see MANAGEMENT BY EXCEPTION.

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