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6) Which of the following is not an example of tax risk associated with a municipal bond? (2 points) i. Risk that the federal income tax rate will increase ii. Risk that the federal income tax rate will decrease ii. Risk that a municipal bond issued as a tax-exempt issue may eventually be declared to be taxable by the Internal Revenue Service. a. Only option l is true b. Only option II is true c. Only option III is true d. Options I and III are true e. Options II and III are true 7) Which of the following is NOT something that Arrowhead Stadium is used for outside of Kansas City Chiefs (American football) games? (2 points) a. Taylor Swift Concerts b. Election Polling Place c. Trade Shows d. Soccer Matches e. All of the above happen in Arrowhead Stadium Short Answer Questions (27 points) 1) In no more than two sentences, what is the difference between Chapter 7 and Chapter 11 bankruptcy? [ 3 points) 2) What are two reasons why ratings are beneficial to firms? (3 points) 3) What does it mean if debt is "refinanced? (3 points) 4) What is the difference between an original-issue high-yield bond and a fallen angel? ( 3 points) 6) Which of the following is not an example of tax risk associated with a municipal bond? (2 points) i. Risk that the federal income tax rate will increase ii. Risk that the federal income tax rate will decrease ii. Risk that a municipal bond issued as a tax-exempt issue may eventually be declared to be taxable by the Internal Revenue Service. a. Only option l is true b. Only option II is true c. Only option III is true d. Options I and III are true e. Options II and III are true 7) Which of the following is NOT something that Arrowhead Stadium is used for outside of Kansas City Chiefs (American football) games? (2 points) a. Taylor Swift Concerts b. Election Polling Place c. Trade Shows d. Soccer Matches e. All of the above happen in Arrowhead Stadium Short Answer Questions (27 points) 1) In no more than two sentences, what is the difference between Chapter 7 and Chapter 11 bankruptcy? [ 3 points) 2) What are two reasons why ratings are beneficial to firms? (3 points) 3) What does it mean if debt is "refinanced? (3 points) 4) What is the difference between an original-issue high-yield bond and a fallen angel? ( 3 points)

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