Q. Consider the following:

1. Mutual Funds
2. Stocks
3. Bonds

Which of the above is / are considered fixed-income securities?
Answer: Only 3
Notes: Mutual funds may contain various assets including bonds and equities; hence they are not inherently fixed-income instruments. Stocks represent ownership and do not assure fixed income. Bonds are debt securities that offer fixed or determinable returns, classifying them as fixed-income securities. Thus, among the given options, only bonds are considered fixed-income securities.