NO.PZ2017121002000004
问题如下：
Corporate bond secondary market trading most often occurs:
选项：
A.on a book-entry basis.
B.on organized exchanges.
C.prior to settlement at T + 1.
解释：
A is correct.
The vast majority of corporate bonds are traded in over-the-counter (OTC) markets that use electronic trading platforms through which users submit buy and sell orders. Settlement of trades in the OTC markets occurs by means of a simultaneous exchange of bonds for cash on the books of the clearing system "on a paperless, computerized book-entry basis."
考点：corporate bond
解析：Book-entry basis理解成电子记账系统；债券所有者没有Physical凭证，债券的所有权关系计入电子系统，故A选项正确。
Prior to settlement T+1的意思不是指 T+1是在结算之前吗？
