Specimen
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MC Question 6
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