1.A 90 day T-bill is trading at a price of 99.125. What is the discount yield? (Answer in percentage points to the third decimal, so 2.25% would be "2.250")..??

2.Which of the following is NOT an aspect of commercial paper?

(A)They are sold with no more than 270 days to maturity.

(B)Liquidity "dries up" beyond about 90 days to maturity.

(C)They are backed by a revolving line of credit.

(D)They can be issued by companies that have credit ratings of at least B ("Single B")

3.You are comparing two sequential T-bill auctions of similar offer amount sizes. The first one had a bid-to-cover ratio of 3.3 while the next one had a bid-to-cover ratio of 2.7. What can be said, either comparatively or in contrast, about these two auctions?

(A)The first auction had more interest from investors.

(B)The first auction likely had a higher stop-out rate.

(C)The second auction had more interest from investors.

(D)The second auction likely had more noncompetitive bids.

4.An overnight repurchase agreement has a party providing US Treasury securities for 98.5500 with a repurchase price of 98.5750. What is the repo rate? (Answer in percentage points to the third decimal, so 2.525% would be "2.525")