1. The majority of home purchases in the U.S. are secured with a mortgage. A mortgage is:
A. an unsecured loan.
B. an equity investment in the property.
C. a debt obligation secured by a specific property.
2. Which of the following transactions does not take place in the primary market? An investor:
A. buying a newly issued municipal bond.
B. buying shares of an initial public offering.
C. selling one hundred shares of stock through a stock broker.
D. buying a U.S. Treasury bill through the government auction.