In major developed bond markets, newly issued sovereign bonds are most often sold to the public via a（n）（）
A. auction
B. private placement
C. best efforts offering
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Which of the following statements relating to commercial paper is most accurate（）
A. There is no secondary market for trading commercial paper
B. Only the strongest, highly rated companies issue commercial paper
Commercial paper is a source of interim financing for long-term projects
Which of the following best describes a negative bond covenant？ The issuer is（）
A. prohibited from investing in risky projects
B. required to pay taxes as they come due
C. required to maintain its current lines of business
In an underwritten offering, an investment bank that underwrites a bond issue most likely（）
A. buys and resells the newly issued bonds to investors or dealers
B. acts as a broker and receives a commission for selling the bonds to investors
C. incurs less risk associated with selling the bonds than in a best efforts offering
A liquid secondary bond market allows an investor to sell a bond at（）
A. the desired price
B. a price at least equal to the purchase price
C. a price close to the bond’s fair market value
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