Question: Historically, active managers could add significant value by focusing on the relative pricing of bonds with different structural elements. Many of these opportunities have been

Historically, active managers could add significant value by focusing on the relative pricing of bonds with different structural
elements. Many of these opportunities have been eliminated with the development of more sophisticated valuation tools and
liquid derivatives markets. The opportunities that remain mostly involve:
Select one
A. Fixed versus floating rate instruments
B. Corporate bonds with embedded options
C. Securitized loans
D. Equity-linked notes
Historically, active managers could add significant value by focusing on the

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