Since the Late Nineteenth Century (With a Brief Interruption in the Mid-Twentieth

question 14

Multiple Choice

Since the late nineteenth century (with a brief interruption in the mid-twentieth century) , at least one Supreme Court seat has been held by a(n)

• A) person affiliated with the opposite party from the president who nominated him or her.
• B) Catholic.
• C) African American.
• D) woman.
• E) political appointee with no legal training.

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Definitions:

Par Value

The face value or nominal value of a stock or bond, set by the issuing company.

Credit Derivatives

Financial instruments used to manage exposure to credit risk by transferring it from one party to another without transferring the underlying assets.

Recovery Value

The estimated amount that can be reclaimed from an asset at the end of its useful life.

Convertible Bond

A type of bond that can be converted into a predetermined number of the issuer's stock shares.