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Treasury bills are described as having a broad secondary market and being:

ADiscount rate fixed
BDefault risk free
CDeferred rate fixed
DDeposit rate free
Answer & Solution
Correct answer: B. Default risk free
1. They are backed by the government. 2. Payment is not in doubt. 3. So they are default risk free. _Source: OpenStax Principles of Finance, Chapter 12, US Financial Markets._
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