Collateralized Mortgage obligations are

a.	Mortgage pass-through securities.
b.	Mortgage pass-through securities with varying maturities.
c.	Mortgage pass-through securities with no default risk.
d.	Mortgage pass-through securities with variable coupon rates.
e.	None of the above.

Suppose you have a 10%, 20 year bond traded at $1,120. If it is callable in 5 years at $1,150, what is the bond's approximate yield to call? Interest is paid quarterly.

a.	7.78%
b.	8.00%
c.	9.40%
d.	9.36%

Consider a bond with a duration of 7.2 years having a yield to maturity of 8% and interest rates are expected to rise by 50 basis points. What is the percentage change in the price of the bond?

a.	2.88%
b.	3.45%
c.	-3.89%
d.	-3.45%
e.	-2.88%

What's the future value of $2,200 after 5 years if the appropriate interest rate is 6%, compounded monthly?

a.	$1,537.69
b.	$2967.47
c.	$1,699.55
d.	$1,784.53
e.	$1,873.76