Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
See exempt. Basically, this word means that something has to follow the rules and toe the line.
In investments, non-exempt might mean that something has to get registered with the SEC.
In other settings, it might mean that you won't get a tax break. For example, the interest on your mortgage is exempt from taxes, meaning you don't have to pay taxes on the interest. But the interest on your boat? Not so much. Sorry, yachters.