ICMA FMFQ Exam - Topic 2 Question 93 Discussion

Actual exam question for ICMA's FMFQ exam

Question #: 93
Topic #: 2

[All FMFQ Questions]

You purchase a USD Treasury Bill. Which of the following sentences best describes the trade you have done?

AYou have purchased a credit risk free security for which you have paid face value and will receive at maturity face value plus accrued interest

BYou have purchased a credit risk free security for which you have paid less than face value and will receive at maturity face value

CYou have purchased an interest rate risk free security for which you have paid face value and will receive at maturity face value plus accrued interest

DYou have purchased an interest rate risk free security for which you have paid less than face value and will receive at maturity face value

Show Suggested Answer

Suggested Answer: B

by Gabriele at Apr 11, 2026, 12:26 PM

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Precious

3 days ago

I remember studying that Treasury Bills are sold at a discount, so I think we pay less than face value.

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