12. The risk that a security issuer will default on that security by being late on or missing an interest or principal payment is known as:

a. Market risk. b. Price risk. c. Total risk. d. Default risk

. 13. The current price of a bond is calculated by: a. Present valuing the future cash flows of the bond. b. Future valuing the current cash flows of the bond. c. Including all dividend payments. d. Finding its coupon rate.