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Fixed Income
1. Many issuers periodically roll over their commercial paper. To minimize the risk of rollover, they usually need to:
A. have sufficient T-bills as collateral.
B. apply for a bilateral loan.
C. maintain backup lines of credit with banks.
2. Party A sells a 90-day Treasury bill to Party B for USD 99.85 and promises to buy it back the next day for USD 99.87. From Party B’s point of view, this transaction could be called:
A. repo agreement.
B. reverse repo agreement.
C. forward rate agreement.
3. The price of a Singapore dollar-denominated bond issued by a U.S. company in Singapore is most likely to be:
A. change as Singapore’s interest rates change.
B. change as U.S interest rates change.
C. be unaffected by changes in U.S. and Singaporean interest rates.