Series 6 - Investment Company And Variable Contracts Products Representative Exam
Preview Mode
Which type of securities do some corporations in the import/export business use as a short-term time draft with a specified payment date drawn on a bank?
Commercial paper
A
Banker's acceptance
B
Jumbo CD
C
Subordinated debenture
D
Explanations
Certain corporations in the import/export business will often use banker's acceptances as a short-term time draft.