1. Coupon reinvestment risk dominates price risk when

a.Investment horizon > MacAulay Duration

b. Investment horizon < MacAulay Duration

c. Investment horizon = MacAulay Duration

2. The two KEY components of credit risk are select 2

a. Spread risk

b. Default risk

c. Downgrade risk

d. Loss severity

3. Place the following in order of claims seniority

a. First lien

b. Junior subordinated

c. Senior secured

d. Subordinated

e. Senior subordinated

f. Senior unsecured

4. Which is NOT one of the 4 Cs of credit analysis

a. Capacity

b. Collection

c. Collateral

d. Covenants

e. Character