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FINRA Series 6

Category - Series 6

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Which of the following is not a secured debt issue?

a collateral trust receipt
a subordinated debenture
an equipment trust receipt
a mortgage bond

Explanation

Answer: B - A subordinated debenture is not a secured debt issue. All the other choices are. Collateral trust receipts are back by stocks and bonds owned by the issuing firm. An equipment trust receipt is backed by specific equipment owned by the firm. A mortgage bond is backed by real estate.

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FINRA Series 6

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