On October 18, 2022, Suzanne executed several transactions involving the sale of securities. All but one of the transactions involved the sale of covered securities. Which of these is the noncovered security?

A $25,000 mortgage-backed security backed by the full faith and credit of the U.S. government. The bond was issued on May 15, 2016. It is scheduled to mature in 2046, but the principal is subject to acceleration, meaning it could be repaid sooner.

A $50,000 corporate bond issued on March 1, 2016. The bond pays interest semi-annually and is scheduled to mature in 2026.

400 shares of Tully Enterprises stock that she inherited from her father on March 25, 2020. Her father initially purchased the stock in 2016.

1,000 shares of Ironstone stock, purchased on August 1, 2017, and which were subject to a 3/2 split on June 1, 2021.

Answer rating: 100% (QA)

The noncovered security among the transactions Suzanne executed is the 50000 corpo... View the full answer