________ are investment advisory firms that rate the quality of corporate and municipal bonds in terms of probability of default.
A) Financial institutions
B) Credit-rating agencies
C) Securities companies
D) none of the above

Question

Quizplus · Accepted Answer

Credit-rating agencies rate the quality of corporate and municipal bonds in terms of probability of default. Financial institutions and securities companies may use the ratings provided by credit-rating agencies in their investment decisions, but they are not solely responsible for rating the bonds themselves.

________ Are Investment Advisory Firms That Rate the Quality of Corporate