In a Pure Yield Pickup Swap, ________ Bonds Are Exchanged

question 52

Multiple Choice

In a pure yield pickup swap, ________ bonds are exchanged for ________ bonds.

• A) longer-duration; shorter-duration
• B) shorter-duration; longer-duration
• C) high-coupon; high-yield
• D) low-yield; high-yield

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Definitions:

Political Make Up

The composition or structure of a political entity, such as a government or party, including its ideology, policies, and distribution of power.

Civil Rights Act

Landmark legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin.

Vetoed

Refers to the rejection or prohibition of a proposal or law by an authority figure, typically a president or governor.

3/5 Clause

A provision in the United States Constitution that counted three-fifths of the slave population for purposes of taxation and representation.