1. Which is NOT true about repurchase agreements (Repos)?

   		a. The security used for collateral is put on the books of the lender
   		b. Extra collateral is provided to make sure there is enough in case of market volatility.
   		c. It is a major source of financing for asset holdings of hedge funds and investment banks.
   		d. It is the structure used by the Federal Reserve to provide liquidity through the discount window.

Circuit City went through a Chapter 7 bankruptcy following its failure during the Great Financial Crisis. What kind of bankruptcy is that?

		a. The company was reorganized and the bondholders ended up owning the company.
		b. The company was liquidated with the proceeds returned to creditors.

Under pure expectations, if a 6 month Treasury bill is yielding 20 basis points and a 3 month Treasury bill is yielding 10 basis points, what does the market think a 3 month Treasury bill will yield in 3 months?

		a. 20 Basis Points
		b. 0 Basis Points
		c. 10 Basis Points
		d. 30 basis points