18. Agency Bonds (LO3, CFA2) Which statement applies to a bond issued by an agency of the...

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18. Agency Bonds (LO3, CFA2) Which statement applies to a bond issued by an agency of the U.S.

government?

a. It is exempt from the federal income tax on interest.

b. It becomes a direct obligation of the U.S. Treasury in case of default.

c. It is secured by assets held by the agency.

d. None of the above.

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