Question: A secured bond is secured by: I. Specific collateral to be paid to secured bondholders in the event of a bond default II. The expected

A secured bond is secured by:

I. Specific collateral to be paid to secured bondholders in the event of a bond default

II. The expected future earnings of the bond issuer

III. An insurance company's financial guarantee of the bond

Select one:

A. I only

B. I and II only

C. I and III only

D. II and III only

E. I, II, and III

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