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Wow, look at question 3:

In determining the investment grade of bonds, it is common to use financial ratios for an industry and compare the bond under consideration with these ratios. Select a particular industry and give examples of at least three financial ratios for the industry. List and explain briefly the advantages and limitations of the ratios you have selected.

Seems like a walk in the park after taking the 2010 and 2011 L3 exams.

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