CFA Practice Question

CFA Practice Question

An older issue of a U.S. Treasury security, which has been replaced by several newer issues, is best referred to as which of the following? Choose the best possible answer.
A. Well-on-the-run issue.
B. Off-the-run issue.
C. Well-off-the-run issue.
Explanation: Treasury issues that are no longer the most recent issue are referred to as "off-the-run" issues, and issues that have been replaced by several on-the-run issues are referred to as "well-off-the-run issues." While esthetically appealing, "well-on-the-run issue" is somewhat nonsensical and does not represent the best possible answer. "Red issue," along with "ex-post issue" is a fictitious term. Finally, while "off-the-run issue" is implicitly correct, it does not represent the best possible answer.

User Contributed Comments 3

User Comment
danlan Note this: well-off-the-run
mindi several!!!!!
seanj951 Where do "Red issue" and "ex-post issue" come into play?
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