1. A company originally issued bonds that were rated investment grade. These bonds have now been downgraded to junk status. These bonds are referred to as:

called bonds.

converted bonds.

unprotected bonds.

fallen angels.

floaters.

2. A firm has four open positions on its board of directors. How many shares do you need to own to guarantee your own election to the board if the firm has 387,500 shares of stock outstanding and uses cumulative voting? Each share is granted one vote.

33,334 shares

77,501 shares

75,251 shares

70,501 shares

96,876 shares