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## 5. Fair Value of Financial Instruments 

## Radian Group Inc. Notes to Consolidated Financial Statements - (Continued) 

The following is a list of those assets and liabilities that are measured at fair value by hierarchy level as of December 31, 2012: 

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(1) Comprising broadly diversified domestic equity mutual funds included within Level I and various preferred and common stocks invested across numerous companies and industries included within Levels II and III. 

(2) Comprising TruPs ($0.9 million) and short-term CDs ($1.6 million) included within Level II and lottery annuities ($1.0 million) and a guaranteed investment contract held by a consolidated VIE ($78.0 million) within Level III. 

(3) Does not include fixed-maturities held to maturity ( $0.7 million) and certain other invested assets ($48.7 million), primarily invested in limited partnerships, accounted for as cost-method investments and not measured at fair value. 

(4) Primarily comprising manufactured housing loan collateral related to two consolidated financial guaranty VIEs. 

(5) Comprising consolidated debt related to NIMS VIEs ($9.9 million) and amounts related to financial guaranty VIEs ($99.0 million). 

