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Unformatted text preview: Credit raters
E. Commercial bankers, investment bankers, investment issuers and credit raters
9. New issues of securities are sold in the ________ market(s).
D. Over the counter
E. Secondary and over the counter
10. In 2009, ____________ was the most significant asset of U.S. households in terms of
A. Real estate
B. Mutual fund shares
C. Debt securities
D. Life insurance reserves
E. Pension reserves
11. When reading a listing of $1000 Treasury notes, under the column ASKED, we see
96:4 and under the column CHG, we see +4. This means that during the course of the
trading day, the ask price of the note rose from ________ to ________. 12. Commercial paper is a short-term security issued by ________ to raise funds.
A. the Federal Reserve Bank
B. commercial banks
C. large, well-known companies
D. the New York Stock Exchange
E. state and local governments
13. A 5.5% 20-year municipal bond is currently priced to yield 7.2%. For a taxpayer in
the 33% marginal tax bracket, this bond would offer an equivalent taxable yield of what?
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- Fall '10