QUESTIONS 97 THROUGH 108 RELATE TO FIXED INCOME INVESTMENTS.

97. The following table gives the coupon rate of a bond. Year Reference rate Coupon rate 1 3.5% 5.0% 2 4.0% 5.5% 3 4.5% 6.0% 4 4.0% 5.5% The bond is most likely to be a A. Step-up note B. Floating rate bond C. Inverse floater

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