SIE Exam Question 439: Answer and Explanation
Question: 439
In the event of a corporate liquidation, which of the following has the highest priority to corporate assets?
- A. Callable Preferred Stock
- B. Convertible Bonds
- C. Unsecured Debt
- D. Secured Debt
Correct Answer: D
Explanation:
D: Secured debt has priority over unsecured debt. Unsecured debt includes bonds. Lastly is the stock - with common stock being the last on the food chain.
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