Long$-$term debt securities

True or False: In general, term loans can be created more quickly than bond issues because they $(1)$ tend to be negotiated directly with the lender, $(2)$

require less formal documentation than bond issues, and $(3)$ are not registered with the Securities and Exchange Commission $($SEC$).$

True

False

True or False: In general, term loans incur lower issuance costs than bond issues because $(1)$ they require less formal documentation than bond

issues, and $(2)$ they are not registered with the Securities and Exchange Commission $($SEC$).$

True

False