41) Holders of at a predetermined price bonds can exchange their bonds into shares of the company's common stock A) convertible 41) C) junk B) investment grades D) callable 42) Compared with other bonds, convertible bonds usually have A) less liquidity C)a higher yield 42Y B) low tax payments D) a higher price 43) Compared with other bonds, callable bonds usually have A) a higher price. C) less liquidity 43) B) a higher yield. D) low tax payments. 44) Moody's gives junk bonds a rating below A) A 44) D) Aaa B) Baa. C) Aa 45) A major purchaser of corporate bonds is A) money market mutual funds C) the Federal Reserve. 45) B) pension and retirement funds D) state and local governments. 46) 46) Most corporate bond trading takes place on the A) New York Stock Exchange. C) Pacific Stock Exchange. B) Nasdaq D) over-the-counter market 47) 47) Compared to Treasury bills, commercial paper A) has no default risk. B) does not have much of a secondary market. C) sells at a higher price for. D) has a lower yield. 48) bonds are municipal bonds that are backed by the general taxing power of the state or 48) local government. B) Revenue A) Bond-anticipation D) General obligation C) Tax-anticipation 49) A bond issued by a local government to build a convention center that is to be financed by fees charged to users is an example of A) a collateralized bond. C) commercial paper. 49) general obligation bond. D) a revenue bond. B) a 50) 50) Which of the following is not a major institutional investor in the stock market? A) Commercial banks C) Mutual funds B) Insurance companies D) Pension funds