PART 2 - TRUE OR FALSE, EXPLAIN (2.5 mark) 11. ABC firm boprowed money from a commercial bank to run their business. It is a type of direct finance. 12. Underwriting is only applied to issuers who don't have prestige F 13. The discriminatory auction is more competitive than the sipgle-price auction 14. A secondary market is a market for low-quality securities. 15. One of the features of an option contract is that the buyer has an obligation to exercise the contract