If You Sell One-Time Nonexclusive Rights for a Photograph to a Magazine

question 10

Multiple Choice

If you sell one-time nonexclusive rights for a photograph to a magazine publisher, the publisher can:

• A)Only use the photograph in one publication, one time.
• B)Only use the photograph in one publication, but it can be used in the same publication again in a later monthly issue without further payment.
• C)Use the photograph any number of times within only one publication.
• D)Use the photograph any time in the future for any number of times.

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Definitions:

Zero-Coupon Bond

A bond that does not pay periodic interest payments but is sold at a deep discount from its face value and pays its full face value at maturity.

Duration

A measure of the sensitivity of the price of a bond or other debt instrument to changes in interest rates, often used as an indication of interest rate risk.

Coupon Bond

A type of bond that pays the holder a fixed interest rate (the coupon) at regular intervals until the bond matures, when the principal amount is repaid.

Zero-Coupon Bond

A debt security that doesn't pay interest (a coupon) but is traded at a deep discount, offering profit at maturity when the bond is redeemed for its full face value.