Final answer:
A registered representative involved in underwriting, sales, and trading of municipal bonds is a municipal finance professional (MFP), who helps raise capital for municipalities and complies with regulatory standards.
Step-by-step explanation:
A registered representative who is involved in underwriting, sales, and trading of municipal bonds is defined as a municipal finance professional (MFP). Individuals in this role are typically associated with a securities firm or financial institution and their responsibilities include raising capital for municipal entities through the issuance of bonds, facilitating bond trades on the secondary market, and advising on investment decisions in municipal securities. On the regulatory side, such professionals need to comply with specific rules and regulations relating to municipal securities transactions and advisory activities, which are governed by organizations such as the Municipal Securities Rulemaking Board (MSRB).