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Please help with the following questions: QUESTION 21 With securitization, the wall between fixed income investors and the residential mortgage market is removed. As a

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QUESTION 21 With securitization, the wall between fixed income investors and the residential mortgage market is removed. As a result, home buyers no longer rely on depository institutions as their primary sources for debt financing. This situation is called: Globalization Disintermediation Deregulation QUESTION 22 A bond that pays interest semiannually has a par value of $1,000, matures in 5 years, and has a coupon rate of 8. What is the value of the bond if the yield to maturity is 10%? $974.33 $951.38 $922.78 QUESTION 23 A coupon-bearing bond was purchased at par. If the band was held until maturity and interest rates fell during the period, the actual ex post return would most likely be: Higher than the YTM at time of purchase. Lower than the YTM at time of purchase. Equal to the YTM at time of purchase. QUESTION 24 Consider the following statements. Statement 1: Government bonds are issued in the primary market while corporate bonds are issued in the secondary market Statement 2: A liquid secondary market allows investors to buy/Sell bonds at a price close to their fair market value Which of the following is most likely? Only Statement 1 is correct. Only Statement 2 is correct. Both statements are incorrect. QUESTION 25 Consider a 10-year bond with semiannual coupon payments. The bond has a coupon rate of 8.5% and its yield-to- maturity is 94. If the YTM remains constant during the bond's remaining term over time the bond price is most likely to Increase Decrease. Remain unchanged

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