A "Fallen Angel" Is a Bond That Has Moved From

question 68

Multiple Choice

A "fallen angel" is a bond that has moved from:

• A) being publicly traded to being privately traded.
• B) being a long-term obligation to being a short-term obligation.
• C) being a premium bond to being a discount bond.
• D) senior status to junior status for liquidation purposes.
• E) investment grade to speculative grade.

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Definitions:

Tenure of Office Act

A federal law enacted in 1867 intended to restrict the power of the U.S. President to remove certain office-holders without the Senate's approval.

House Judiciary Committee

A standing committee of the United States House of Representatives that oversees matters relating to the administration of justice within federal courts, administrative agencies, and Federal law enforcement entities.

Military Reconstruction Act

Legislation passed in 1867 during the Reconstruction era in the United States, which outlined the terms for readmitting Southern states into the Union.

White Conservatives

A political ideology commonly associated with the right-wing, emphasizing traditional social orders, limited government, and, historically, opposition to rapid social change.