NO.PZ2019052801000103
问题如下：
All other things being equal, which of the following types of bond instruments would have the lowest interest rate?
选项：
A.
Equipment trust certificates.
B.
Mortgage bonds.
C.
Junior debentures.
D.
Senior debentures.
解释：
A is correct.
ETCs, or equipment trust certificates, are generally the most secure because the underlying assets are actually owned by the trustee and rented to the borrower. Also, the assets are usually standardized for easy resale.
解析：
哪一个债券的利息最低？
有抵押品的债券利息最低，在所有有抵押品的债券里，ETC的抵押品质量最好，利息最低。
1、“Equipment trust certificates”老师好，以机器设备抵押的债券，是指债券发行人用设备所有权做抵押发行的债券？
之前有一道题，提到A将设备卖给B，B将设备回租给借款人，借款人还清借款时就拥有了设备所有权。这过程不就是售后回租吗？和设备抵押债券有什么关系呢？
2、“Mortgage bonds”是以房地产贷款为抵押的债券？
