1. The current yield is an incomplete measure of a bond's returns compared to the Yield to Maturity on the bond:

a. Because it ignores the capital gains or losses that may result when the bond is sold to another investor

b. Because it includes the maturity value

c. Because it does not include the capital gains or losses that may result at maturity

d. None of the above

2. YTM and current yield will be the same for:

a. consols because they never reach maturity

b. for zero-coupon bonds because they have no coupons

c. For all bonds

d. for short term bonds only