为了帮助各位参加2015年USCPA考试的考生更好地备考与复习，高顿网校小编在此特为大家整理了USCPA模拟试题，你答对了吗？
　　Which of the following is generally associated with the terms of convertible debt securities?
　　a. A noncallable feature.
　　b. A feature to subordinate the security to nonconvertible debt.
　　c. An initial conversion price that is less than the market value of the common stock at time of issuance.
　　d. An interest rate that is lower than nonconvertible debt.
　　Explanation
　　Choice "d" is correct. The interest rate on convertible debt is generally lower than nonconvertible debt because of the value of the conversion feature.
　　Choice "c" is incorrect. The conversion price is generally greater than the market value of the common stock at the time of issuance.
　　Choice "a" is incorrect. This is not a typical feature of convertible debt securities.
　　Choice "b" is incorrect. Convertible debt is not typically subordinate to nonconvertible debt.
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