If a Portfolio Manager Had to Estimate the Fair Value

question 16

Multiple Choice

If a portfolio manager had to estimate the fair value of publicly traded bonds,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.

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Definitions:

Shipment States

Terms related to the sale of goods that determine when and under what conditions the risk of loss passes from the seller to the buyer during transit.

Consequential Damages

Losses incurred as an indirect result of an event, beyond the immediate physical damage or loss.

Unconscionable

Referring to actions or terms that are excessively unfair or unethical to one party in a way that shocks the conscience.

Essential Purpose

The primary or most important goal or function of an object, policy, or legal contract.