QUESTION 22 Convertible bonds typically have which of the following characteristics? a. Allow stockholders to convert their shares into bonds at a stated ratio. b. Allow bondholders to convert their bonds into shares at a stated ratio. c. Are more likely to be converted when a company's stock underperforms. d. Are likely to pay a higher yield than comparable non-convertible bonds. QUESTION 23 Which of the following statements is not correct? a. Yields on bankers acceptances are typically higher than commercial paper since there is additional risk. b. Negotiable CDs are deposits of $100,000 or more and are tradeable in the secondary market. c. Commercial paper is not considered default risk free. d. Repurchase agreements typically have maturities equal to that of commercial paper