Fixed income...whats the norm..annual or semi annual when no annual, percent, payment, question, where

kamara5

In a question where its not mentioned specifically that bond payment is annual or semi annual…does one take it as semi annual or annual to be the norm?
Consider a 10 year, 5 percent bond priced at 1028 . What is the YTM?
Here in the answer N is taken as 20 and pmt as 25 all the while supposing that its semi annual….why??

clearlycanadian

I’ve never confronted that kinda problem in 2000+ questions I did and I doubt that in exam it could be left unmentioned frequency of payments. So I think there is no reason to worry about that.