提问

问题如下：

Collateral trust bonds is most likely backed by:

选项：

A.

Securities.

B.

Mortgages.

C.

Physical assets.

解释：

Correct Answer: A

Collateral trust bonds are secured by securities, such as common shares, other bonds, or other financial assets. B is incorrect because mortgage-backed securities are secured by mortgages. C is incorrect because equipment trust certificates are backed by physical assets such as aircraft, railroad cars, shipping containers, or oil rigs.