A bond matures in five years with a coupon rate of 7% and a maturity value of RM10 million. Given that the interest payment is yearly and the discount rate is 5%, find the Present Value of the bond.
Which of the following statements regarding orders is false?
a) Where the customer's order is a careful discretion order, trades allocated to the house error account must not be worse off to that allocated to customer's account.
b) A Representative can execute an order that will have an impact on the market for, or price of, a security or Futures Contract.
c) A Representative is not allowed to purchase substantial volume in a thinly traded counter, which accounts for a large proportion of the market volume, to establish a predetermined price.
d) A Representative should be alert to orders placed near the close on the last trading day of the month, quarter or year.