$1.$ Explain how the value of a bond is calculated based on expected cash flows.

$2.$ Describe the relationship between coupon rate, current yield, and yield to maturity as it relates to bonds selling at$,$ below, or above par value.

$3.$ Explain the differences in calculating YTM and YTC$.$

$4.$ How should returns for Treasury, corporate, and municipal bonds be compared?

$5.$ Describe default risk and interest rate risk.

$6.$ Describe the impact of a bond's maturity and coupon rate on its interest rate risk.

$7.$ What is duration and how is it used?

$8.$ If Parker has a $$4$ million bond portfolio with a duration of $4$ and an average YTM of $5\%,$ how will it be impacted by a $100$ basis point increase in interest rates?

$9.$ Discuss the limitations of duration.

$10.$ What are the keys to using duration to immunize a bond portfolio?

$11.$ Differentiate passive and active bond portfolio strategies.