• Senior secured bonds are

• • The most senior bonds in a firm's capital structure.

    
    

  • Bonds with the lowest risk of default.

    
    

  • Bonds that are not backed by specific assets.

    
    

  • a and b.

    
    

  • a and c.

    In an investment policy statement the objectives of an investor are expressed in terms of

    • risk and return

      
      

    • risk

      
      

    • return

      
      

    • time horizon

      
      

    • liquidity needs

      • Someone in the 15 percent tax bracket can earn 8 percent annually on his investments in a tax-exempt IRA account. What will be the value of a $10,000 investment after 5 years (assuming annual compounding)?

      • • $ 6,805

          
          

        • $14,693

          
          

        • $15,528

          
          

        • $20,114

          
          

        • $50,000