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FINRA Series 7

Category - Series 7

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Bonds are most often quoted as a percentage of:

face value
book value
market value
whatever value the broker says

Explanation

Answer: A - face value. The price is 100.00 if the yield is the same as the coupon rate. A price of less than 100.00 means the yield is higher than the coupon rate. A price of more than 100.00 means the yield is lower than the coupon rate. The prices are a percentage of 100.00. However, treasury bonds and municipal bonds are not quoted in this way.

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FINRA Series 7

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FINRA Series 7

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