Products & Risks第 12 / 125 题
U.S. Treasury bills are best characterized as:
a.Long-term coupon-bearing bonds
b.Securities that pay semiannual interest and mature in 30 years
c.Short-term securities issued at a discount and maturing at par, with no periodic coupon
d.Bonds backed by specific federal project revenues
解析
Treasury bills are short-term obligations (one year or less) issued at a discount to face value and redeemed at par at maturity; the investor's return is the difference between purchase price and par. They pay no periodic coupon, unlike Treasury notes and bonds.
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