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Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With U.S. Treasury securities, a single price auction is held but bidders may also submit [...] bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in their bids. The price determined by this type of auction is found as in the example just given, but the amount of securities specified in the [...] bids is subtracted from the total amount to be sold.
Answer
noncompetitive

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With U.S. Treasury securities, a single price auction is held but bidders may also submit [...] bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in their bids. The price determined by this type of auction is found as in the example just given, but the amount of securities specified in the [...] bids is subtracted from the total amount to be sold.
Answer
?

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
With U.S. Treasury securities, a single price auction is held but bidders may also submit [...] bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in their bids. The price determined by this type of auction is found as in the example just given, but the amount of securities specified in the [...] bids is subtracted from the total amount to be sold.
Answer
noncompetitive
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With U.S. Treasury securities, a single price auction is held but bidders may also submit a noncompetitive bid. Such a bid indicates that those bidders will accept the amount ofTreasuries indicated at the price determined by the auction, rather than specifying a maximum price in

Original toplevel document (pdf)

owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p19

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statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

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