# Fight Finance

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Question 909  money market, bills

By convention, money market securities' yields are always quoted as:

Which of the following is NOT a money market security?

Which of the following is also known as 'commercial paper'?

Which of the following statements is NOT correct? Money market securities are:

A 90 day bank bill has a face value of $100,000. Investor A bought the bill when it was first issued at a simple yield to maturity of 3% pa and sold it 20 days later to Investor B who expected to earn a simple yield to maturity of 5% pa. Investor B held it until maturity. Which of the following statements is NOT correct? A bank bill was bought for$99,000 and sold for \$100,000 thirty (30) days later. There are 365 days in the year. Which of the following formulas gives the simple interest rate per annum over those 30 days?

Note: To help you identify which is the correct answer without doing any calculations yourself, the formulas used to calculate the numbers are given.