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CSC Chapter 6 Questions and Answers
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CSC Chapter 6 Questions and Answers What is a direct bond? When bonds are issued directly by the Government itself What is a guaranteed bond? Bonds are issued by a crown corporation, but if the issuer goes default, the Government pays the interest & principal payment Previous Pl...

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  • September 22, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • csc chapter 6 questions and answers
  • what is a direct bond when bonds are issued direc
  • what is a guaranteed bond bonds are issued by a c

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CSC Chapter 6 Questions and Answers
What is a direct bond? - answer When bonds are issued directly by the Government
itself

What is a guaranteed bond? - answer Bonds are issued by a crown corporation, but
if the issuer goes default, the Government pays the interest & principal payment

Bonds trading at a discount - answer When yield is > coupon rate

Bonds trading at a premium - answer When yield is < coupon rate

When are interest paid on a bond? - answer Semi-annually

What are liquid bonds? - answer Bonds are traded in a significant volume. It allows
for a large volume to be trade quickly without making a significiant sacrifice on the price

What is a marketable bond? - answer There is a ready market for the bond. These
bonds have features & price that are attractive

What is a callable bond? - answer Issuers can call (redeem) the bond. They will
payoff the bond before maturity. The issuer must give 10-30 days notice. Corporation &
Provincial Government bonds are callable, while Federal & Municipal Government
bonds are non-callable

What is a Canada Yield Call? - answer Allows issuers to call the bond at a price
based on the yield of a Government bond + yield spread

When are bonds settled? - answer Settled on or 3 days business date

What are strip bonds? - answer High quality bonds where some or all coupon are
separated. The principal & any coupons left are traded separately at a discount.

What is an extendible bond? - answer Bonds are usually issued a short-term
maturity, but has the option to exchange for an identical amount of a long-term bond
with or higher coupon

What is a retractable bond? - answer Bonds issued with a long-term maturity that
has an option to redeem at by par by the retraction date

What is a sinking fund? - answer Corporation bonds have a mandatory call feature
for a sinking fund purpose. Its a sum of money set aside out of earning for repayment of
all or part of debt securities at maturity

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