A Proposed Constitutional Amendment Allowing Vouchers Was

question 30

Multiple Choice

A proposed constitutional amendment allowing vouchers was

• A)rejected by California voters.
• B)passed by Californians.
• C)replaced with a charter school proposal.
• D)none of the above.

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Definitions:

Convexity

The curvature of the price–yield relationship of a bond.

Yield

The annual percentage yield received from an investment, including interest or dividends, relative to the cost of that investment.

Rate Anticipation Swap

A switch made between bonds of different durations in response to forecasts of interest rates.

Portfolio Duration

A measure of the sensitivity of a portfolio's value to changes in interest rates, often used for managing the interest rate risk.