Question: QUESTION 19 A premium bond is defined as a bond that: O a. has a duration that is less than 1.0. O b. has a

QUESTION 19 A premium bond is defined as a bond that: O a. has a duration that is less than 1.0. O b. has a face value that exceeds its market value. O c. is callable at a price which exceeds the face value. O d. has a market price that exceeds par value. O e. is selling for less than face value. QUESTION 20 A callable bond: O a. can be paid off early at either the issuer's or the bondholder's request. . b.can be redeemed early if the bondholder so requests O c. can have its maturity date extended by the issuer. d. can be redeemed by the issuer prior to maturity Oe. is a bond that pays a variable interest payment

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