If a Portfolio Manager Had to Estimate the Fair Value

question 57

Multiple Choice

If a portfolio manager had to estimate the fair value of illiquid mortgage-backed securities,which of the following would he/she most likely identify as the level of inputs to determine this?

• A) Level 1.
• B) Level 2.
• C) Level 3.
• D) None of these.

---

Definitions:

Bill Gates

Co-founder of Microsoft Corporation and a prominent philanthropist involved in various global health and education initiatives.

Sexual Relationship

A relationship between individuals that involves sexual intimacy or activities.

Maximizing Partner

A person who always seeks the best possible outcome or the highest utility in decision-making processes.

Quality

The standard of something as measured against other things of a similar kind; the degree of excellence of something.