- CFA Exams
- CFA Level I Exam
- Study Session 14. Fixed Income (1)
- Reading 42. Fixed-Income Securities: Defining Elements
- Subject 1. Basic Features of a Fixed-Income Security
CFA Practice Question
Assume that a bond's par value is $120. A quote of 90 means that the bond price is ______.
A. $90
B. $108
C. $120
Explanation: Bond prices are quoted as a percentage of their par values. In this case, 90% x 120 = $108.
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