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Fixed Income Test 1 (Answered) 2022
- Exam (elaborations) • 8 pages • 2023
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Fixed Income Test 1 (Answered) 2022 
 
The US debt market is larger than the US equity market? T/F 
True 
All of the following are differentiating factors of fixed income securities versus equity securities except for: 
 
Fixed claim 
Higher priority on cash flows 
Tax deductibility by issuer 
Infinite Life 
Infinite Life 
A bond's CUSIP is defined as: 
 
A) A unique nine digit number to identify individual bonds 
B) A number assigned by the SEC to all registered bond offerings 
Only A is corre...
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fixed income test 3 (Answered) Complete Solution
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fixed income test 3 (Answered) Complete Solution 
delta 
first-order sensitivity to the price of the underlying asset; positive for calls and increase with moneyness, negative for puts and decrease with moneyness 
gamma 
measures how delta changes as spot price increases 
theta 
measures time decay of an options value; always negative for calls, usually negative for puts 
vega 
sensitivity of an options price to changes in volatility of the underlying asset 
rho 
sensitivity of an option price t...
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Fixed Income Test 2 (Answerd) Verified Solution
- Exam (elaborations) • 13 pages • 2023
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Fixed Income Test 2 (Answerd) Verified Solution 
 
Two factors account for prominence of US Treasuries 
1) Volume 
2) Liquidity 
 
Department of Treasury = largest global single issuer of debt. Most active/liquid market in the world. 
All Treausury securities 
are noncallable. Thus, investors are not subject to call risk 
Marketable Treasury secs 
fixed-principal securities or inflation-indexed securities 
Treasury Bills 
- issued at discount 
- no coupon 
- one year or less 
- return to the inv...
-
Fixed Income Test 1 (Answered) 2022
- Exam (elaborations) • 8 pages • 2023
-
- $10.99
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Fixed Income Test 1 (Answered) 2022 
 
The US debt market is larger than the US equity market? T/F 
True 
All of the following are differentiating factors of fixed income securities versus equity securities except for: 
 
Fixed claim 
Higher priority on cash flows 
Tax deductibility by issuer 
Infinite Life 
Infinite Life 
A bond's CUSIP is defined as: 
 
A) A unique nine digit number to identify individual bonds 
B) A number assigned by the SEC to all registered bond offerings 
Only A is corre...
-
Fixed Income Securities Test 1 (Answered) Complete Solution
- Exam (elaborations) • 18 pages • 2023
-
- $11.99
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Fixed Income Securities Test 1 (Answered) Complete Solution 
 
Fixed income securities can also be referred to as? 
debt securities and bonds 
a fixed income security is a __________ obligation 
debt 
What is the largest subset of financial markets? 
global fixed income markets 
global fixed income markets is the largest by what criteria? 
- number of shares 
- market capitalization 
In 2010 global fixed income markets were ____ times larger than global equity markets? 
3 
In fixed income market...
Too much month left at the end of the money?
-
Fixed Income Test 2 (Answerd) Verified Solution
- Exam (elaborations) • 13 pages • 2023
-
- $9.99
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Fixed Income Test 2 (Answerd) Verified Solution 
 
Two factors account for prominence of US Treasuries 
1) Volume 
2) Liquidity 
 
Department of Treasury = largest global single issuer of debt. Most active/liquid market in the world. 
All Treausury securities 
are noncallable. Thus, investors are not subject to call risk 
Marketable Treasury secs 
fixed-principal securities or inflation-indexed securities 
Treasury Bills 
- issued at discount 
- no coupon 
- one year or less 
- return to the inv...
-
Fixed Income Test 1 (Answered) 2022
- Exam (elaborations) • 8 pages • 2023
-
- $9.99
- + learn more
Fixed Income Test 1 (Answered) 2022 
 
The US debt market is larger than the US equity market? T/F 
True 
All of the following are differentiating factors of fixed income securities versus equity securities except for: 
 
Fixed claim 
Higher priority on cash flows 
Tax deductibility by issuer 
Infinite Life 
Infinite Life 
A bond's CUSIP is defined as: 
 
A) A unique nine digit number to identify individual bonds 
B) A number assigned by the SEC to all registered bond offerings 
Only A is corre...
-
fixed income test 3 (Answered) Complete Solution
- Exam (elaborations) • 2 pages • 2023
-
- $9.19
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fixed income test 3 (Answered) Complete Solution 
delta 
first-order sensitivity to the price of the underlying asset; positive for calls and increase with moneyness, negative for puts and decrease with moneyness 
gamma 
measures how delta changes as spot price increases 
theta 
measures time decay of an options value; always negative for calls, usually negative for puts 
vega 
sensitivity of an options price to changes in volatility of the underlying asset 
rho 
sensitivity of an option price t...
-
Fixed Income Securities Test 1 (Answered) Complete Solution
- Exam (elaborations) • 18 pages • 2023
-
- $13.79
- + learn more
Fixed Income Securities Test 1 (Answered) Complete Solution 
 
Fixed income securities can also be referred to as? 
debt securities and bonds 
a fixed income security is a __________ obligation 
debt 
What is the largest subset of financial markets? 
global fixed income markets 
global fixed income markets is the largest by what criteria? 
- number of shares 
- market capitalization 
In 2010 global fixed income markets were ____ times larger than global equity markets? 
3 
In fixed income market...
-
Fixed Income Securities Test 2 (Answered) Complete Solution
- Exam (elaborations) • 11 pages • 2023
-
- $13.52
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Fixed Income Securities Test 2 (Answered) Complete Solution 
 
Assume you purchased Treasury bond on November 14, with an annual coupon rate equal to 15%. At settlement you must pay accrued interest equal to $2.51. Assuming there are 182 days in a coupon period, how many days were in the AI period? 
Coupon of 15% = $15 per $100 of par 
Coupon interest per day = 15 / 364 = .0412 
$2.51 / .0412 = 61 days 
Which of the following statements is FALSE? 
 
- all coupon treasury security can be created ...
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