The condition that Haley cannot remember in his Statement #2 is that the:
A. cash flows in the portfolio must be dispersed around the horizon date.
B. cash flows in the portfolio must be concentrated around the horizon date.
C. distribution of durations of individual assets in the portfolio must have a wider range than the distribution of the liabilities.
Ans: C. distribution of durations of individual assets in the portfolio must have a wider range than the distribution of the liabilities.
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Whenever Joe buys a 12-oz soda at his nearby convenience store, he gets a stamp for the card that he carries in his wallet. When he has eight stamps he can exchange the card for a free soda. This is an examples of a(n):
a. loyalty card b. frequent visitor program c. self-liquidating premium d. in-store rebate e. consumer allowance
Since 2010, the interest rate on passbook accounts and certificates of deposit has
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