NO.PZ2023120801000031
问题如下:
Which of the following is correct regarding the single-price auction process?
选项:
A.Bidders include only dealers and institutional investors.
Competitive bidders who bid higher than the stop yield are allocated securities.
All non-competitive bids are accepted, while competitive bids are ranked starting at the lowest yield (highest bond price).
解释:
Correct Answer: C
All non-competitive bids are accepted, while competitive bids are ranked starting at the lowest yield (highest bond price). A is incorrect because individuals can also bid, in addition to dealers and institutional investors. B is incorrect because competitive bidders who bid higher than the stop yield (lower price) do not purchase any securities. All securities are sold for a single price, using a stop yield.
b为什么错呢