The hierarchy gives the highest priority to valuations based upon
unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements).
Financial assets and liabilities whose values, based on
unadjusted,
quoted prices for identical assets or liabilities in an active market, examples include active exchange - traded equity securities, listed derivatives, most United States Government and agency securities, and certain...