- CFA Exams
- CFA Level I Exam
- Study Session 14. Derivatives
- Reading 37. Pricing and Valuation of Forward Commitments
- Subject 5. Fixed-Income Forward and Futures Contracts
CFA Practice Question
When buying a bond, one must pay the _____ price.
II. clean
III. full
I. dirty
II. clean
III. full
Correct Answer: I and III
Both I and III include the accrued interest.
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