QUESTIONS 97 THROUGH 108 RELATE TO FIXED INCOME INVESTMENTS.

104. Consider the coupons paid by a structured note in last 5 years: Year Coupon paid Reference rate 1 4.5% 4.5% 2 5.5% 5.5% 3 0 6.2% 4 5.2% 5.2% 5 0 6.5% The structured note is most likely to be a A. Deleveraged floater B. Dual-indexed floater C. Range note