1. Which of the following can only be bought and sold by banks?

   	a.	Federal Funds
   	b.	CP
   	c.	CD's
   	d.	None of these can be bought or sold by banks.
   	e.	T-bills

2. Which of the following securities have to be registered with the SEC?

   	a.	Stock in private corporations.
   	b.	None of these have to be registered with the SEC.
   	c.	Publicly traded bonds.
   	d.	Commercial paper
   	e.	Loans by companies that are not corporations.

3. Interest rates and bond prices.....

   	a.	sometimes move in the same direction and sometimes move in the opposite direction.
   	b.	move in the same direction
   	c.	move in the opposite direction.
   	d.	have no relationship to one another.