35.

Which of the following is NOT correct about Australasian money markets?

Select one:

a. Money markets are attractive to institutional investors as the markets are normally highly liquid

b. Commercial paper is often issued by dealers

c. Underwriters of P-note programs receive fees about 1.00 per cent per annum

d. The face value of commercial paper is generally $100,000

e. Money markets operate as primary and secondary markets