The invoice price of a bond is the _______.

a) stated or flat price in a quote sheet plus accrued interest; b) stated or flat price in a quote sheet minus accrued interest; c) bid price; d) average of the bid and ask price

A 20-year maturity 9% coupon bond paying coupons semiannually is callable in 7 years at a call price of $1,050. The bond currently sells at a yield to maturity of 8% (bond equivalent yield). What is the yield to call?

a) 3.85%; b) 3.72% c) 7.44%; d) 7.70%

Which of the following would be expected to have the longest duration.

a) a 10 year treasury; b) a 10 year zero coupon bond; c) a 10 year junk corporate bond; d) a 10 year investment grade corporate bond