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Bonds 205: TIGRs, CATS, and LIONs

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1.
All of the following were benefits of TIGRs, CATS, and LIONs except _______.
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Ownership of a Treasury security. Ownership of a Treasury security was not a feature of the felines, which were securities issued by private firms.
2.
The units that Treasury-backed zeros are based on represent _______.
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Interest. Interest payments were divided into units as the basis of Treasury-backed zeros.
3.
Compared to its face value, the issuing price of a zero coupon bond is _______.
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Much lower. Zero coupons are issued at deep discounts from their face values.
4.
Even though felines were issued by private firms, they were still relatively secure bonds.
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True. Even though they were issued by private firms, these bonds were based on Treasury securities held in escrow.
5.
Coupon-stripping consists of separating a bond's interest from its _______.
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Principal. Coupon stripping consists of separating a bond's interest from its principal and issuing securities based on each of them separately.