Specimen
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MC Question 10
Formulae & tables
Which of the following statements are features of money market instruments?
1 A negotiable security can be sold before maturity
2 The yield on commercial paper is usually lower than that on treasury bills
3 Discount instruments trade at less than face value
A. 2 only
B. 1 and 3 only
C. 2 and 3 only
D. 1, 2 and 3