The price for a Treasury bond with a principal value of $1,000 is 94-18. What's the dollar price of this bond?

1. $945.63
2. $945.50
3. $1,000
4. $941.80

A security that works as a letter of credit and used for import-export financing when conducting international business is referred to as:

1. Commercial Paper
2. A Bankers Acceptance
3. Certificate of deposit
4. Federal funds

A municipality has issued a long-term municipal bond which indicates that the state legislature will provide support if the bond goes into default. What type of municipal bond offers this protection?

1. Double Barreled Bond
2. Revenue Bond
3. Moral Obligation Bond
4. Special Assessment Bond

What's the primary difference between STRIPS and Treasury receipts?

1. STRIPS pay interest and treasury receipts do not
2. Treasury receipts pay interest and STRIPS do not
3. STRIPS are backed by the full faith and credit of the U.S. government, but treasury receipts are not
4. Treasury receipts are backed by the full faith and credit of the U.S. government, but STRIPS are not

Which of the following does a variable rate demand obligation (VRDO) offer to investors that an auction rate security (ARS) does NOT?

1. Tax-free income
2. Long-term Maturity
3. Put option
4. Adjustable interest