An Auction of the Type Used in Country or Art

question 26

Multiple Choice

An auction of the type used in country or art auctions is called a(n)

• A) Dutch auction
• B) English auction
• C) American auction

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Definitions:

Registered Bonds

Bonds that are registered in the name of the holder and require transfer of ownership when sold, contrasting with bearer bonds.

Transfer Agent

An organization that keeps records of the owners of a company’s securities. When a security is sold by one investor to another, ownership is transferred on the record by the transfer agent.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry.

Company

An legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.