Indicate if each factor will lead to a higher or lower yield.

1. A. Lower
2. B. Higher

	1. A bond being tax-exempt (instead of being taxable)
	2. A bond have high default risk (compared to a bond with lower default risk)
	3. A bond with a call provision (compared to a bond without a call provision)
	4. A bond with a conversion option (compared to a bond that is not convertible)
	5. A bond that is very liquid (compared to a bond that is illiquid)