two questions abt level 1 sample tests

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*Version 1- Q14
for 99% confidence interval, the answer used triple (3) standard deviation for confidence interval. I self study the test using Schweser notes, in the book, the 99% confidence interval is X-2.58s to X+2.58s. Based on my knowledge, it should be 2.58 too, not 3.

I am wondering if i misunderstood the problem and which number is the right one.

*Version 2 -Q56
which embedded option is most benificial to a bond issuer?
B. Floor on floating rate bond.
C. Accelerated sinking fund provision

Why not B? And C sounds weird to me. It can be beneficial to bond issuer if the yield rises. but it can be not beneficial either, if the yield falls. 

*Another question---
What is the major difference between sinking fund and prepayment bonds? what about callable and refundable bonds?

You may help me with any of those questions. Thanks a lot!!!!!!

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关键词：questions question Sample Level Tests Level two Sample questions abt

谁能帮一下哦？不好意思，我写的太罗索。简而言之---
1。 是2.58 还是3
2。floor on floating rate bond对债券发行商帮助不大么？
3。我分不太清sinking fund，prepayment bonds 还有 callable and refundable bonds 之间的区别。

快要考试了，准备时间太短，好着急啊，先谢谢了！！

Floor 是设定了利率下线，相当于锁定了债券的最高价格，对发行商而言当然不是什么好事

callable bond是说可以提前赎回的，refundable bonds也是可以提前赎回，但是可以通过发行利率更低的债券来替代以前的债券，对发行人而言相当于用低成本的债券替代以前高成本的债券，与refundable相对应的是nonrefundable债券，意思是可以提前赎回，但是不能通过发行低成本债券替代原有债券

prepayment bond是提前摊还的债券，即加速常换，和callable还是不一样的

谢谢解答 : )

我混淆了floor和ceiling，其实我是想问C选项，Accelerated sinking fund provision,这个可以对债券商有利，也可以不利啊，如果利率下跌的话....

prepayment bond和 callable bond区别还是很大的，我想问prepayment和 sinking fund bond之间的区别。

万分感谢！！！