T bill和短期T bond

问题如下：

The following statements are about the popular money market investment instruments, which of the following statements is NOT correct?

选项：

A.

Treasury bills must mature within one year from date of issue

B.

For short-term treasury notes and bonds within one year of maturity, they should have the same expected return as the T-bill of the same maturity.

C.

For treasury bills, market prices are relatively stable, readily marketable and can serve as collateral for other funds.

D.

Federal Agency Securities is issued by agencies owned (sponsored) by federal government

解释：

考点：对Instruments Available to Financial Firms的理解

答案：B

解析：

选项B错误，对于一年以内的Notes或者Bonds，即便他们的期限与T-bill一致，预期收益也比T-bill高。关于B选项正确的表述为：As they are more sensitive to interest rate risk and less marketable than T-bills, their expected returns are usually higher than for bills.