1. What is the price of a bond if the coupon rate is 4%, the YTM is 4%, and the number of years to maturity is 15?

2. A bond is trading at a discount. Which of the following is true?

a. The Yield to Call is LESS than the Yield to Maturity

b. The Current Yield is LESS than the Nominal Yield

c. The Nominal Yield is GREATER than the Yield to Call

d. The Yield to Maturity is GREATER than the Nominal Yield

3. You purchase 3 oil futures (1,000 barrels per contract) for $50/barrel on 10% margin. What is your dollar profit/loss if the price of oil goes to $65/barrel?

a. $45,000.00

b. $30,000.00

c. $300,000.00

d. $15,000.00