3. Financial instruments Financial instruments are assets that have a monetary value or record a monetary transaction. To coordinate the exchange of carlal between borrowers and lenders, financial instruments trade in the financial markets. These financial instruments can be categorized on the basis of their issuers, maturity, risk, and other factors. Identify the financial instruments based on the following descriptions. Which of the following are money market instruments? Check all that apply. Common stocks Commercial paper Certificates of deposit Long-term bank loans Corporate bonds A financial instrument whose value is derived from the value of an underlying asset is called a