1. Why are bond prices so much easier to determine than stock prices?

2. Why do bond prices change less often than stock prices?

3. Explain why bonds sell for below par when the yield to maturity is higher than the coupon rate and why they sell for above par when the yield to maturity is lower than the coupon rate.

4. Explain the interest rate risk of bonds and reinvestment rate risk.

5. Why can municipal bonds offer a lower coupon rate than a similarly priced corporate bond with the same risk factors?