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Treasury STRIPS are best described as:
a.Short-term Treasury bills sold at face value
b.Zero-coupon securities created by separating the interest and principal payments of Treasury notes and bonds
c.Municipal bonds stripped of their tax exemption
d.Floating-rate agency notes
Giải thích
STRIPS (Separate Trading of Registered Interest and Principal of Securities) are created when a Treasury security's coupon and principal payments are separated and sold individually as zero-coupon instruments. Each STRIP is bought at a discount and pays face value at maturity, with no periodic interest. They are backed by the U.S. government but carry phantom (imputed) taxable income each year.
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Câu hỏi liên quan cùng chủ đề
- Compared with U.S. Treasury securities, GSE agency securities such as FNMA debentures generally offer:
- A collateralized mortgage obligation (CMO) is:
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- U.S. Treasury bills (T-bills) are:
- The main difference between a Treasury note and a Treasury bond is:
- Treasury Inflation-Protected Securities (TIPS) protect investors by:
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