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1.
Municipal bonds are issued by state and local governments, U.S. territories, and non-federal public agencies such as school districts, cities, and airport authorities.
Municipal debt is considered the second safest form of debt security after U.S. government obligations. Some types of municipal bonds include all of the following
EXCEPT:
Municipal debt is considered the second safest form of debt security after U.S. government obligations. Some types of municipal bonds include all of the following
EXCEPT:
2.
These are the most common type of municipal bonds and are backed by projected revenue streams from the infrastructure built by the bond. These revenues can be in the form of rental r user fees for facilities or even tolls for road improvements. What are these?
3.
Negotiable certificates are:
4.
As interest rate change, the price of an issued bond also changes. The change in price has an inverse relationship to changes in interest rates (if one rises, the other falls). If new bond issues are paying a higher interest rate than existing bonds, investors will not purchase existing bonds unless:
5.
Banks should develop policies related to ALM, including specific guidelines regarding risk/reward tradeoffs. The goal is to manage risks while achieving acceptable returns on investments. In developing these policies bank officials analyze:
6.
Most municipal and corporate bonds are rated by an independent rating firm such as Standard & Poor's (S&P) or Moody's. These ratings provide investors with information regarding the risk of default on the bond issue. The higher rated bonds are considered _________.
7.
Auditors should be aware that the investment objectives of a mutual fund are usually based on a risk profile outlined in the fund prospectus. For example,
aggressive growth funds may invest in highly volatile stock issues and a money market fund may invest in lo
aggressive growth funds may invest in highly volatile stock issues and a money market fund may invest in lo
8.
Risks related to assets/liability management that auditors should be aware of include all of the following EXCEPT:
9.
The management of index funds is _________ than the management of non-index funds, because an index fund manager only needs to track a relatively fixed index of securities.
10.
A mutual fund that invested primarily in utility companies and bonds would be an example for an income mutual fund. Which of the following risk/s is/are NOT associated with bond funds?