What level are inputs for estimating fair values are those inputs include quoted prices for similar assets or liabilities in active or inactive markets,other observable information such as yield curves and price indexes,and other observable data such as market-based correlation estimates?
A) Level 1.
B) Level 2.
C) Level 3.
D) None of these.

Question

Quizplus · Accepted Answer

Inputs for estimating fair values that include quoted prices for similar assets or liabilities in active or inactive markets, other observable information such as yield curves and price indexes, and other observable data such as market-based correlation estimates are considered Level 2 inputs. Level 1 inputs are quoted prices for identical assets or liabilities in active markets, while Level 3 inputs are unobservable inputs that require significant judgment or estimation.

What Level Are Inputs for Estimating Fair Values Are Those