A Serial Bond

question 61

Multiple Choice

A serial bond

• A) Is assigned a serial number that is used to randomly determine which bonds will be redeemed in any given year
• B) Has a specified maturity date which will vary from the date assigned to other bonds in the same bond issue
• C) Generally has a sinking fund provision
• D) Will generally be callable within three to five years of issue
• E) Has no fixed maturity date, but is redeemed when called

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