Can anyone plz explain que no. 27. Ans is C
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Aggregate indexes or broad market index represent the entire(almost) market of the securities being considered. Given here is an aggregate FI index. These indexes will represent almost 90% of all bonds in the say, Indian Bond market. Now, from this index, we can have smaller sub-indexes like Indian Bond Investment Grade index, Indian Bond Junk grade index, Indian bond IT companies index, etc.
Here it talks about the fact that an Index can be further used to bifurcate the securities within it into various other specific Categories. For Examples a Broad Fixed Income Index can be further subdivided into indexes of Govt Securities, Speculative Nature , Investment Grade , ABS type etc