1. A company originally issued bonds that were rated investment grade. These bonds have now been downgraded to junk status. These bonds are referred to as:
called bonds.
converted bonds.
unprotected bonds.
fallen angels.
floaters.
2. A firm has four open positions on its board of directors. How many shares do you need to own to guarantee your own election to the board if the firm has 387,500 shares of stock outstanding and uses cumulative voting? Each share is granted one vote.
33,334 shares
77,501 shares
75,251 shares
70,501 shares
96,876 shares