A trust is a legal arrangement in which title to property is held for the benefit of a third party by a(n)

The exhaustion of remedies doctrine requires that state and administrative remedies be

exhausted before a § 1983 action may be filed. a. True b. False

The expected yield on junk bonds is higher than the yield on AAA-rated bonds because of the

higher default risk associated with junk bonds. Indicate whether the statement is true or false