An investor is in a 30% tax bracket. If corporate bonds offer 9% yields, what must municipals offer for the investor to prefer them to corporate bonds? (Round your answer to 2 decimal places. Omit the "%" sign in your response.)
Primary market refers to the market ____________.
A. that attempts to identify mispriced securities and arbitrage opportunities.
B. in which investors trade already issued securities.
C. where new issues of securities are offered.
D. in which securities with custom-tailored characteristics are designed.
Asset allocation refers to the _________.
A. allocation of the investment portfolio across broad asset classes
B. analysis of the value of securities
C. choice of specific assets within each asset class
D. none of the answers define asset allocation
An example of a derivative security is _________.
A. a common share of General Motors
B. a call option on Intel stock
C. a Ford bond
D. a U.Treasury bond
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