$1$

ng: $1$:$10$:$55$

Question $3$ of $30$

Thich of the following is the definition of a Level $2$ fair value?

a$.$ "Level $2"$ inputs for estimating fair values include quoted prices for similar assets or liabilities in active or inactive markets, other observable information such as yield curves and price indexes, and other observable data such as market$-$based correlation estimates.

b$.$ "Level $2"$ inputs for estimating fair values include a firm's own assumptions about the fair value of an asset or a liability, such as using various data about future cash flows and discount rates to estimate present values.

c$.$ "Level $2"$ inputs for estimating fair values are based on inputs that are readily available via prices for identical assets or liabilities in actively traded markets, such as securities exchanges.

d$.$ None of these answer choices are correct.