At a public bond sale, all bidders are required to deposit a certified or cashiers check equal to at least 2 percent of the bonds, or a financial surety bond for electronic proposals, to secure the local unit.

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Prepare for the Rutgers Municipal Capital and Trust Fund Accounting Test. Use our study guide with flashcards and multiple choice questions. Each question provides hints and explanations for clearer understanding. Ensure your success on the test with our comprehensive resources!

Multiple Choice

At a public bond sale, all bidders are required to deposit a certified or cashiers check equal to at least 2 percent of the bonds, or a financial surety bond for electronic proposals, to secure the local unit.

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