1.Which of the following statements is true regarding asset-backed securities (ASB)? A. Each traunche has the same risk B. They generally have low credit ratings C. They have relatively long maturities D. They offer relatively high yields

2. Gold coins would be classified as: A. financial assets B. real assets C. personal assets D. indirect assets

3. Which of the following statements regarding the SEC is not true? A. The SEC is an independent, quasi-judicial agency of the U.S. government B. The SEC has nine regional offices and approximately 200 examiners C. The SEC has the power to disapprove securities for lack of merit D. The SEC administers all U.S. securities laws