21. Investing in futures contracts: A. is the only means of investing in intangible assets. B. can be very risky. C. is a means of locking in a pre-determined amount of profit. D. is a method used to avoid losses. E. locks you into a position for the duration of the contract. 22. Which one of the following sentences is correct concerning fixed-income securities? A. Bond prices rise when interest rates increase. B. A premium bond sells for less than its face value. C. Treasury bonds are subject to default risk. D. Corporate bonds are always very liquid. E. The default risk varies with the bond issuer. = 23. Long-term debt issued by either the government or a corporation that pays fixed payments based on a preset schedule is called a(n): A. money market instrument. B. preferred stock. C. future contract D. option contract. E. fixed-income security. 24. A primary asset is defined as: A. a security originally sold by a business or government to raise money and which represents a claim on the issuer's assets. B. a long-term tangible item owned by a corporation and used as collateral for a bond issue. C. a security issued by the federal government with a maturity of one year or less. D. any financial security which is traded on one or more of the security exchanges within the U.S. and issued by a U.S. corporation. E. any financial security that is backed by the full faith and credit of the U.S. government