- CFA Exams
- CFA Level I Exam
- Study Session 14. Fixed Income (1)
- Reading 43. Fixed-Income Markets: Issuance, Trading, and Funding
- Subject 2. Primary and Secondary Bond Markets
CFA Practice Question
Among the following bonds, ______ typically exhibit the lowest liquidity.
A. privately placed bonds
B. auctioned bonds
C. underwritten bonds
Explanation: There is usually no active secondary market to trade privately placed bonds.
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