{"id":1626,"date":"2018-11-21T08:25:23","date_gmt":"2018-11-21T08:25:23","guid":{"rendered":"https:\/\/dumps.dumpsbase.com\/?p=1626"},"modified":"2019-03-04T08:23:47","modified_gmt":"2019-03-04T08:23:47","slug":"finra-exam-series-6-exam-dumps","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/finra-exam-series-6-exam-dumps.html","title":{"rendered":"FINRA Exam Series 6 Exam Dumps"},"content":{"rendered":"<p>Series 6 exam is administered by the Financial Industry Regulatory Authority (FINRA), it is a securities license entitling the holder to register as a company&#8217;s representative and sell&nbsp;mutual funds,&nbsp;variable annuities, and&nbsp;insurance premiums. <em><strong>Effective October 1, 2018, candidates must pass the Securities Industry Essentials (SIE) exam and a revised Series 6 to obtain the Investment Company and Variable Contracts Products registration.&nbsp;<\/strong><\/em><\/p>\n<p>Pass Series 6 exam will be not easy, but <span style=\"color: #ff6600;\"><strong><span style=\"font-size: 14pt;\">Dumpsbase<\/span> FINRA Exam Series 6 Exam Dumps<\/strong><\/span> would like to help you pass Series 6 exam successfully.<\/p>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam641\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-641\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-641\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-15648'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Which of the following statements about the over-the-counter market is true?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='15648' \/><input type='hidden' id='answerType15648' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15648[]' id='answer-id-64800' class='answer   answerof-15648 ' value='64800'   \/><label for='answer-id-64800' id='answer-label-64800' class=' answer'><span>Only penny stocks are traded in the over-the-counter market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15648[]' id='answer-id-64801' class='answer   answerof-15648 ' value='64801'   \/><label for='answer-id-64801' id='answer-label-64801' class=' answer'><span>Trades in the over-the-counter market are conducted via the auction process.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15648[]' id='answer-id-64802' class='answer   answerof-15648 ' value='64802'   \/><label for='answer-id-64802' id='answer-label-64802' class=' answer'><span>Only bonds and other debt instruments are traded in the over-the-counter market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15648[]' id='answer-id-64803' class='answer   answerof-15648 ' value='64803'   \/><label for='answer-id-64803' id='answer-label-64803' class=' answer'><span>Stocks that are listed on exchange floors are also traded in the over-the-counter market.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-15649'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>Which of the following is not an auction market?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='15649' \/><input type='hidden' id='answerType15649' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15649[]' id='answer-id-64804' class='answer   answerof-15649 ' value='64804'   \/><label for='answer-id-64804' id='answer-label-64804' class=' answer'><span>NASDAQ<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15649[]' id='answer-id-64805' class='answer   answerof-15649 ' value='64805'   \/><label for='answer-id-64805' id='answer-label-64805' class=' answer'><span>NYSE<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15649[]' id='answer-id-64806' class='answer   answerof-15649 ' value='64806'   \/><label for='answer-id-64806' id='answer-label-64806' class=' answer'><span>CHX<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15649[]' id='answer-id-64807' class='answer   answerof-15649 ' value='64807'   \/><label for='answer-id-64807' id='answer-label-64807' class=' answer'><span>All of the above are auction markets<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-15650'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a:<\/div><input type='hidden' name='question_id[]' id='qID_3' value='15650' \/><input type='hidden' id='answerType15650' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15650[]' id='answer-id-64808' class='answer   answerof-15650 ' value='64808'   \/><label for='answer-id-64808' id='answer-label-64808' class=' answer'><span>registered trader.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15650[]' id='answer-id-64809' class='answer   answerof-15650 ' value='64809'   \/><label for='answer-id-64809' id='answer-label-64809' class=' answer'><span>specialist.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15650[]' id='answer-id-64810' class='answer   answerof-15650 ' value='64810'   \/><label for='answer-id-64810' id='answer-label-64810' class=' answer'><span>floor broker.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15650[]' id='answer-id-64811' class='answer   answerof-15650 ' value='64811'   \/><label for='answer-id-64811' id='answer-label-64811' class=' answer'><span>commission broker.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-15651'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Which of the following statements about specialists is false?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='15651' \/><input type='hidden' id='answerType15651' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15651[]' id='answer-id-64812' class='answer   answerof-15651 ' value='64812'   \/><label for='answer-id-64812' id='answer-label-64812' class=' answer'><span>Specialists are market makers in assigned stocks and, as such, can profit from these investments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15651[]' id='answer-id-64813' class='answer   answerof-15651 ' value='64813'   \/><label for='answer-id-64813' id='answer-label-64813' class=' answer'><span>Specialists are required to maintain a fair and orderly market in their assigned stocks, meaning that they must buy if there is an excess of sell orders and sell out of their own portfolios if there is an excess of buy orders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15651[]' id='answer-id-64814' class='answer   answerof-15651 ' value='64814'   \/><label for='answer-id-64814' id='answer-label-64814' class=' answer'><span>Specialists are employees of the exchange on which they oversee trades.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15651[]' id='answer-id-64815' class='answer   answerof-15651 ' value='64815'   \/><label for='answer-id-64815' id='answer-label-64815' class=' answer'><span>In addition to acting as market makers, specialists also act as agents and execute limit orders placed by commission brokers for their clients if the specified price is reached.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-15652'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>NASDAQ market makers provide investors with assurance that:<\/div><input type='hidden' name='question_id[]' id='qID_5' value='15652' \/><input type='hidden' id='answerType15652' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15652[]' id='answer-id-64816' class='answer   answerof-15652 ' value='64816'   \/><label for='answer-id-64816' id='answer-label-64816' class=' answer'><span>there is a market for the listed security.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15652[]' id='answer-id-64817' class='answer   answerof-15652 ' value='64817'   \/><label for='answer-id-64817' id='answer-label-64817' class=' answer'><span>the investor will be able to buy or sell the security at a price he desires.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15652[]' id='answer-id-64818' class='answer   answerof-15652 ' value='64818'   \/><label for='answer-id-64818' id='answer-label-64818' class=' answer'><span>the investor will be investing in a high quality investment with relatively low risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15652[]' id='answer-id-64819' class='answer   answerof-15652 ' value='64819'   \/><label for='answer-id-64819' id='answer-label-64819' class=' answer'><span>NASDAQ market makers provide investors with no assurance whatsoever. It is \u201cbuyer beware.\u201d<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-15653'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>SuperDOT is:<\/div><input type='hidden' name='question_id[]' id='qID_6' value='15653' \/><input type='hidden' id='answerType15653' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15653[]' id='answer-id-64820' class='answer   answerof-15653 ' value='64820'   \/><label for='answer-id-64820' id='answer-label-64820' class=' answer'><span>an electronic communication network (ECN).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15653[]' id='answer-id-64821' class='answer   answerof-15653 ' value='64821'   \/><label for='answer-id-64821' id='answer-label-64821' class=' answer'><span>an electronic system whereby trades are executed on NASDA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15653[]' id='answer-id-64822' class='answer   answerof-15653 ' value='64822'   \/><label for='answer-id-64822' id='answer-label-64822' class=' answer'><span>an electronic system used to place orders on the NYS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15653[]' id='answer-id-64823' class='answer   answerof-15653 ' value='64823'   \/><label for='answer-id-64823' id='answer-label-64823' class=' answer'><span>both A and<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-15654'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>GoForBroke Investments has registered with the SEC to be a market maker in certain NASDAQ-listed securities. In order to be able to enter bid and ask quotes for the securities in which it is going to make a market, GoForBroke must subscribe to which level of NASDAQ?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='15654' \/><input type='hidden' id='answerType15654' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15654[]' id='answer-id-64824' class='answer   answerof-15654 ' value='64824'   \/><label for='answer-id-64824' id='answer-label-64824' class=' answer'><span>Level I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15654[]' id='answer-id-64825' class='answer   answerof-15654 ' value='64825'   \/><label for='answer-id-64825' id='answer-label-64825' class=' answer'><span>Level II<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15654[]' id='answer-id-64826' class='answer   answerof-15654 ' value='64826'   \/><label for='answer-id-64826' id='answer-label-64826' class=' answer'><span>Level III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15654[]' id='answer-id-64827' class='answer   answerof-15654 ' value='64827'   \/><label for='answer-id-64827' id='answer-label-64827' class=' answer'><span>Level IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-15655'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Which of the following is not a characteristic of all auction stock exchanges in the U.S.?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='15655' \/><input type='hidden' id='answerType15655' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15655[]' id='answer-id-64828' class='answer   answerof-15655 ' value='64828'   \/><label for='answer-id-64828' id='answer-label-64828' class=' answer'><span>There is a central marketplace.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15655[]' id='answer-id-64829' class='answer   answerof-15655 ' value='64829'   \/><label for='answer-id-64829' id='answer-label-64829' class=' answer'><span>Stocks that are traded on the exchange must meet certain listing requirements, determined by the exchange.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15655[]' id='answer-id-64830' class='answer   answerof-15655 ' value='64830'   \/><label for='answer-id-64830' id='answer-label-64830' class=' answer'><span>In order to conduct a trade on the exchange, a broker must be a member of the exchange or hold a license to trade on the exchange.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15655[]' id='answer-id-64831' class='answer   answerof-15655 ' value='64831'   \/><label for='answer-id-64831' id='answer-label-64831' class=' answer'><span>If a stock is listed on one of these exchanges, it is not permitted to be listed on any other exchange.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-15656'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following is an example of a primary market transaction?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='15656' \/><input type='hidden' id='answerType15656' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15656[]' id='answer-id-64832' class='answer   answerof-15656 ' value='64832'   \/><label for='answer-id-64832' id='answer-label-64832' class=' answer'><span>Exco Resources (XCO) sells a new issue of 7.5%, 8-year notes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15656[]' id='answer-id-64833' class='answer   answerof-15656 ' value='64833'   \/><label for='answer-id-64833' id='answer-label-64833' class=' answer'><span>Ms. Talker calls her broker and places a market order to sell shares of AT&amp;T (T) on the NYS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15656[]' id='answer-id-64834' class='answer   answerof-15656 ' value='64834'   \/><label for='answer-id-64834' id='answer-label-64834' class=' answer'><span>Mr. Safe purchases a Treasury bill with two weeks remaining to maturity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15656[]' id='answer-id-64835' class='answer   answerof-15656 ' value='64835'   \/><label for='answer-id-64835' id='answer-label-64835' class=' answer'><span>Mr. Green places an order to buy shares of Sunvalley Solar, Inc. (SSOL), a stock selling on the OTC Bulletin Board.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-15657'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>NASDAQ is:<\/div><input type='hidden' name='question_id[]' id='qID_10' value='15657' \/><input type='hidden' id='answerType15657' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64836' class='answer   answerof-15657 ' value='64836'   \/><label for='answer-id-64836' id='answer-label-64836' class=' answer'><span>an acronym for Norway\u2019s major stock exchange.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64837' class='answer   answerof-15657 ' value='64837'   \/><label for='answer-id-64837' id='answer-label-64837' class=' answer'><span>the government organization that insures accounts at<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64838' class='answer   answerof-15657 ' value='64838'   \/><label for='answer-id-64838' id='answer-label-64838' class=' answer'><span>brokerage firms.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64839' class='answer   answerof-15657 ' value='64839'   \/><label for='answer-id-64839' id='answer-label-64839' class=' answer'><span>a computerized system that links together the<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64840' class='answer   answerof-15657 ' value='64840'   \/><label for='answer-id-64840' id='answer-label-64840' class=' answer'><span>regional exchanges.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15657[]' id='answer-id-64841' class='answer   answerof-15657 ' value='64841'   \/><label for='answer-id-64841' id='answer-label-64841' class=' answer'><span>a computerized quotation system used in the over-the-counter market.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-15658'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>All government bonds and the majority of corporate bonds are traded:<\/div><input type='hidden' name='question_id[]' id='qID_11' value='15658' \/><input type='hidden' id='answerType15658' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15658[]' id='answer-id-64842' class='answer   answerof-15658 ' value='64842'   \/><label for='answer-id-64842' id='answer-label-64842' class=' answer'><span>on the floor of the NYS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15658[]' id='answer-id-64843' class='answer   answerof-15658 ' value='64843'   \/><label for='answer-id-64843' id='answer-label-64843' class=' answer'><span>via electronic communication networks (ECNs).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15658[]' id='answer-id-64844' class='answer   answerof-15658 ' value='64844'   \/><label for='answer-id-64844' id='answer-label-64844' class=' answer'><span>on regional exchanges.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15658[]' id='answer-id-64845' class='answer   answerof-15658 ' value='64845'   \/><label for='answer-id-64845' id='answer-label-64845' class=' answer'><span>in the over-the-counter market.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-15659'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>Which of the following types of securities would not be traded in the over-the-counter market? <br \/>\r<br>I. stock options <br \/>\r<br>II. government bonds <br \/>\r<br>III. corporate bonds <br \/>\r<br>IV. corporate stocks<\/div><input type='hidden' name='question_id[]' id='qID_12' value='15659' \/><input type='hidden' id='answerType15659' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15659[]' id='answer-id-64846' class='answer   answerof-15659 ' value='64846'   \/><label for='answer-id-64846' id='answer-label-64846' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15659[]' id='answer-id-64847' class='answer   answerof-15659 ' value='64847'   \/><label for='answer-id-64847' id='answer-label-64847' class=' answer'><span>I and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15659[]' id='answer-id-64848' class='answer   answerof-15659 ' value='64848'   \/><label for='answer-id-64848' id='answer-label-64848' class=' answer'><span>III and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15659[]' id='answer-id-64849' class='answer   answerof-15659 ' value='64849'   \/><label for='answer-id-64849' id='answer-label-64849' class=' answer'><span>All of the choices are traded in the over-the-counter market.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-15660'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Which of the following are duties of the specialist on an exchange floor? <br \/>\r<br>I. executing limit orders if\/when the limit price specified is reached <br \/>\r<br>II. minimizing any imbalance in supply and demand for the stock(s) that the specialist is assigned <br \/>\r<br>III. determining an opening price for each assigned stock every day <br \/>\r<br>IV. serving as an auctioneer for the shares of the assigned stocks<\/div><input type='hidden' name='question_id[]' id='qID_13' value='15660' \/><input type='hidden' id='answerType15660' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15660[]' id='answer-id-64850' class='answer   answerof-15660 ' value='64850'   \/><label for='answer-id-64850' id='answer-label-64850' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15660[]' id='answer-id-64851' class='answer   answerof-15660 ' value='64851'   \/><label for='answer-id-64851' id='answer-label-64851' class=' answer'><span>I, II, and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15660[]' id='answer-id-64852' class='answer   answerof-15660 ' value='64852'   \/><label for='answer-id-64852' id='answer-label-64852' class=' answer'><span>I and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15660[]' id='answer-id-64853' class='answer   answerof-15660 ' value='64853'   \/><label for='answer-id-64853' id='answer-label-64853' class=' answer'><span>I, II, III, and IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-15661'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>The price at which an investor can sell a security to a market maker in the over-the-counter market is called the:<\/div><input type='hidden' name='question_id[]' id='qID_14' value='15661' \/><input type='hidden' id='answerType15661' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15661[]' id='answer-id-64854' class='answer   answerof-15661 ' value='64854'   \/><label for='answer-id-64854' id='answer-label-64854' class=' answer'><span>sale price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15661[]' id='answer-id-64855' class='answer   answerof-15661 ' value='64855'   \/><label for='answer-id-64855' id='answer-label-64855' class=' answer'><span>put price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15661[]' id='answer-id-64856' class='answer   answerof-15661 ' value='64856'   \/><label for='answer-id-64856' id='answer-label-64856' class=' answer'><span>bid price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15661[]' id='answer-id-64857' class='answer   answerof-15661 ' value='64857'   \/><label for='answer-id-64857' id='answer-label-64857' class=' answer'><span>ask price.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-15662'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>Mary is interested in buying shares of the Lambchops Corporation, which sells over-the-counter. The market maker with the best bid price--$3.15--is Veggie Investments. The market maker with the best ask price--$3.27-is Carnivor Investments. Mary conducts trades in NYSE-listed stocks through her broker, Omnivor and Associates. <br \/>\r<br>Given this scenario, which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='15662' \/><input type='hidden' id='answerType15662' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15662[]' id='answer-id-64858' class='answer   answerof-15662 ' value='64858'   \/><label for='answer-id-64858' id='answer-label-64858' class=' answer'><span>Mary can buy shares of Lambchops Corporation at the bid price of $3.15 by contacting Veggie Investments directly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15662[]' id='answer-id-64859' class='answer   answerof-15662 ' value='64859'   \/><label for='answer-id-64859' id='answer-label-64859' class=' answer'><span>Mary can buy shares of Lambchops Corporation at the ask price of $3.27 by contacting Carnivor Investments directly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15662[]' id='answer-id-64860' class='answer   answerof-15662 ' value='64860'   \/><label for='answer-id-64860' id='answer-label-64860' class=' answer'><span>Mary can buy shares of Lambchops Corporation at the bid price of $3.15 by contacting Omnivor and Associates.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15662[]' id='answer-id-64861' class='answer   answerof-15662 ' value='64861'   \/><label for='answer-id-64861' id='answer-label-64861' class=' answer'><span>Mary can buy shares of Lambchops Corporation at the ask price of $3.27 by contacting Omnivor and Associates.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-15663'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Noah Mete is interested in selling his shares of the Lambchops Corporation, which trades over-the-counter. The market maker with the best bid price--$3.15--is Veggie Investments. The market maker with the best ask price--$3.27-is Carnivor Investments. Noah conducts trades in NYSE-listed stocks through his broker, Omnivor and Associates. <br \/>\r<br>Given this scenario, which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='15663' \/><input type='hidden' id='answerType15663' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15663[]' id='answer-id-64862' class='answer   answerof-15663 ' value='64862'   \/><label for='answer-id-64862' id='answer-label-64862' class=' answer'><span>Noah can sell his shares of Lambchops Corporation at the bid price of $3.15 by contacting Veggie Investments directly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15663[]' id='answer-id-64863' class='answer   answerof-15663 ' value='64863'   \/><label for='answer-id-64863' id='answer-label-64863' class=' answer'><span>Noah can sell his shares of Lambchops Corporation at the ask price of $3.27 by contacting Carnivor Investments directly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15663[]' id='answer-id-64864' class='answer   answerof-15663 ' value='64864'   \/><label for='answer-id-64864' id='answer-label-64864' class=' answer'><span>Noah can sell his shares of Lambchops Corporation at the bid price of $3.15 by contacting Omnivor and Associates.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15663[]' id='answer-id-64865' class='answer   answerof-15663 ' value='64865'   \/><label for='answer-id-64865' id='answer-label-64865' class=' answer'><span>Noah can sell his shares of Lambchops Corporation at the ask price of $3.27 by contacting Omnivor and Associates.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-15664'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Which of the following represents a secondary market transaction?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='15664' \/><input type='hidden' id='answerType15664' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15664[]' id='answer-id-64866' class='answer   answerof-15664 ' value='64866'   \/><label for='answer-id-64866' id='answer-label-64866' class=' answer'><span>An investor buys Treasury bills in the regular Monday auction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15664[]' id='answer-id-64867' class='answer   answerof-15664 ' value='64867'   \/><label for='answer-id-64867' id='answer-label-64867' class=' answer'><span>An investor buys 300 shares of Electromed (ELMD) at its IPO offer price of $4.00 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15664[]' id='answer-id-64868' class='answer   answerof-15664 ' value='64868'   \/><label for='answer-id-64868' id='answer-label-64868' class=' answer'><span>An investor sells her shares of Sunvalley Solar, Inc. (SSOL), which sells on the OTC Bulletin Board for $0.059 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15664[]' id='answer-id-64869' class='answer   answerof-15664 ' value='64869'   \/><label for='answer-id-64869' id='answer-label-64869' class=' answer'><span>A home buyer obtains a mortgage through his savings and loan.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-15665'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Which of the following statements about primary market transactions is true?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='15665' \/><input type='hidden' id='answerType15665' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15665[]' id='answer-id-64870' class='answer   answerof-15665 ' value='64870'   \/><label for='answer-id-64870' id='answer-label-64870' class=' answer'><span>A primary market transaction is defined as a transaction that is executed on either the NYSE or NASDA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15665[]' id='answer-id-64871' class='answer   answerof-15665 ' value='64871'   \/><label for='answer-id-64871' id='answer-label-64871' class=' answer'><span>Transactions that take place on ECNs are secondary market transactions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15665[]' id='answer-id-64872' class='answer   answerof-15665 ' value='64872'   \/><label for='answer-id-64872' id='answer-label-64872' class=' answer'><span>In a primary market transaction, the issuer of the security receives the proceeds from the sale of the security.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15665[]' id='answer-id-64873' class='answer   answerof-15665 ' value='64873'   \/><label for='answer-id-64873' id='answer-label-64873' class=' answer'><span>A primary market transaction refers to the trading of stocks; a secondary market transaction is defined as a transaction that involves bonds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15665[]' id='answer-id-64874' class='answer   answerof-15665 ' value='64874'   \/><label for='answer-id-64874' id='answer-label-64874' class=' answer'><span>Both A and B are true statements.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-15666'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>A new issue of common stock can be classified in which of the following categories? <br \/>\r<br>I. primary market <br \/>\r<br>II. money market <br \/>\r<br>III. secondary market <br \/>\r<br>IV. capital market<\/div><input type='hidden' name='question_id[]' id='qID_19' value='15666' \/><input type='hidden' id='answerType15666' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15666[]' id='answer-id-64875' class='answer   answerof-15666 ' value='64875'   \/><label for='answer-id-64875' id='answer-label-64875' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15666[]' id='answer-id-64876' class='answer   answerof-15666 ' value='64876'   \/><label for='answer-id-64876' id='answer-label-64876' class=' answer'><span>III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15666[]' id='answer-id-64877' class='answer   answerof-15666 ' value='64877'   \/><label for='answer-id-64877' id='answer-label-64877' class=' answer'><span>I and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15666[]' id='answer-id-64878' class='answer   answerof-15666 ' value='64878'   \/><label for='answer-id-64878' id='answer-label-64878' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-15667'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following securities would be exempt from SEC registration requirements? <br \/>\r<br>I. a 15-year bond issued by the state of Colorado <br \/>\r<br>II. an issue of preferred stock that has an aggregate par value of $5 million <br \/>\r<br>III. an issue of commercial paper that has a 5-month maturity<\/div><input type='hidden' name='question_id[]' id='qID_20' value='15667' \/><input type='hidden' id='answerType15667' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15667[]' id='answer-id-64879' class='answer   answerof-15667 ' value='64879'   \/><label for='answer-id-64879' id='answer-label-64879' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15667[]' id='answer-id-64880' class='answer   answerof-15667 ' value='64880'   \/><label for='answer-id-64880' id='answer-label-64880' class=' answer'><span>III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15667[]' id='answer-id-64881' class='answer   answerof-15667 ' value='64881'   \/><label for='answer-id-64881' id='answer-label-64881' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15667[]' id='answer-id-64882' class='answer   answerof-15667 ' value='64882'   \/><label for='answer-id-64882' id='answer-label-64882' class=' answer'><span>I and II only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-15668'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>The investment banker bears the risk if the securities do not sell in a(n):<\/div><input type='hidden' name='question_id[]' id='qID_21' value='15668' \/><input type='hidden' id='answerType15668' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15668[]' id='answer-id-64883' class='answer   answerof-15668 ' value='64883'   \/><label for='answer-id-64883' id='answer-label-64883' class=' answer'><span>firm commitment underwriting agreement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15668[]' id='answer-id-64884' class='answer   answerof-15668 ' value='64884'   \/><label for='answer-id-64884' id='answer-label-64884' class=' answer'><span>best efforts agreement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15668[]' id='answer-id-64885' class='answer   answerof-15668 ' value='64885'   \/><label for='answer-id-64885' id='answer-label-64885' class=' answer'><span>all-or-nothing commitment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15668[]' id='answer-id-64886' class='answer   answerof-15668 ' value='64886'   \/><label for='answer-id-64886' id='answer-label-64886' class=' answer'><span>None of the above selections are correct. The investment banking firm is never exposed to risk if the securities don\u2019t sell.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-15669'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Which of the following steps in the underwriting process will occur last?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='15669' \/><input type='hidden' id='answerType15669' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15669[]' id='answer-id-64887' class='answer   answerof-15669 ' value='64887'   \/><label for='answer-id-64887' id='answer-label-64887' class=' answer'><span>The underwriting syndicate is formed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15669[]' id='answer-id-64888' class='answer   answerof-15669 ' value='64888'   \/><label for='answer-id-64888' id='answer-label-64888' class=' answer'><span>The selling group is organized.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15669[]' id='answer-id-64889' class='answer   answerof-15669 ' value='64889'   \/><label for='answer-id-64889' id='answer-label-64889' class=' answer'><span>The public offering price is set.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15669[]' id='answer-id-64890' class='answer   answerof-15669 ' value='64890'   \/><label for='answer-id-64890' id='answer-label-64890' class=' answer'><span>A red herring prospectus is circulated to the public.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-15670'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Which of the following is not a feature associated with an investment in preferred stock?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='15670' \/><input type='hidden' id='answerType15670' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15670[]' id='answer-id-64891' class='answer   answerof-15670 ' value='64891'   \/><label for='answer-id-64891' id='answer-label-64891' class=' answer'><span>The dividend is typically a fixed amount.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15670[]' id='answer-id-64892' class='answer   answerof-15670 ' value='64892'   \/><label for='answer-id-64892' id='answer-label-64892' class=' answer'><span>If a dividend payment is skipped, it must typically be made up before common shareholders can receive any dividends.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15670[]' id='answer-id-64893' class='answer   answerof-15670 ' value='64893'   \/><label for='answer-id-64893' id='answer-label-64893' class=' answer'><span>Preferred shareholders usually have the right to vote on members of the board of directors, mergers, and shareholder proposals.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15670[]' id='answer-id-64894' class='answer   answerof-15670 ' value='64894'   \/><label for='answer-id-64894' id='answer-label-64894' class=' answer'><span>The preferred stock may be convertible to common stock.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-15671'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Nat Informed places a market order to buy 200 shares of Abercrombie &amp; Fitch (ANF) on Thursday, September 16th. <br \/>\r<br>When will Nat be required to pay for this Transaction?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='15671' \/><input type='hidden' id='answerType15671' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15671[]' id='answer-id-64895' class='answer   answerof-15671 ' value='64895'   \/><label for='answer-id-64895' id='answer-label-64895' class=' answer'><span>by the end of the trading on September 15th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15671[]' id='answer-id-64896' class='answer   answerof-15671 ' value='64896'   \/><label for='answer-id-64896' id='answer-label-64896' class=' answer'><span>on the next trading day, September 16th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15671[]' id='answer-id-64897' class='answer   answerof-15671 ' value='64897'   \/><label for='answer-id-64897' id='answer-label-64897' class=' answer'><span>on Tuesday, September 21st.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15671[]' id='answer-id-64898' class='answer   answerof-15671 ' value='64898'   \/><label for='answer-id-64898' id='answer-label-64898' class=' answer'><span>on Friday, September 17th.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-15672'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Connie Serve placed an order to purchase five, $1,000 Treasury bonds in the secondary market on Tuesday, October 12th. <br \/>\r<br>Connie will be required to pay for this purchase on which day?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='15672' \/><input type='hidden' id='answerType15672' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15672[]' id='answer-id-64899' class='answer   answerof-15672 ' value='64899'   \/><label for='answer-id-64899' id='answer-label-64899' class=' answer'><span>Tuesday, October 12th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15672[]' id='answer-id-64900' class='answer   answerof-15672 ' value='64900'   \/><label for='answer-id-64900' id='answer-label-64900' class=' answer'><span>Wednesday, October 13th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15672[]' id='answer-id-64901' class='answer   answerof-15672 ' value='64901'   \/><label for='answer-id-64901' id='answer-label-64901' class=' answer'><span>Thursday, October 14th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15672[]' id='answer-id-64902' class='answer   answerof-15672 ' value='64902'   \/><label for='answer-id-64902' id='answer-label-64902' class=' answer'><span>Friday, October 15th.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-15673'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>On Monday, August 2nd, the Board of Directors of Baldor Electric (BEZ) announced that the firm would pay a dividend of $0.17 a share. Payment will be made on Friday, October 8th to shareholders of record as of Friday, September 17th. <br \/>\r<br>In order to receive this dividend check, an investor would have to purchase shares of Baldor Electric before which day?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='15673' \/><input type='hidden' id='answerType15673' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15673[]' id='answer-id-64903' class='answer   answerof-15673 ' value='64903'   \/><label for='answer-id-64903' id='answer-label-64903' class=' answer'><span>Monday, August 2nd.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15673[]' id='answer-id-64904' class='answer   answerof-15673 ' value='64904'   \/><label for='answer-id-64904' id='answer-label-64904' class=' answer'><span>Wednesday, September 15th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15673[]' id='answer-id-64905' class='answer   answerof-15673 ' value='64905'   \/><label for='answer-id-64905' id='answer-label-64905' class=' answer'><span>Friday, September 17th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15673[]' id='answer-id-64906' class='answer   answerof-15673 ' value='64906'   \/><label for='answer-id-64906' id='answer-label-64906' class=' answer'><span>Friday, October 8th.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-15674'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>On Friday, August 6th, the Board of Directors of Ecolab (ECI) announced that it would pay a dividend of $0.155 a share to shareholders of record as of Tuesday, September 21st.The dividend checks were scheduled to be mailed on Friday, October 15th. In this scenario, the ex-dividend date is:<\/div><input type='hidden' name='question_id[]' id='qID_27' value='15674' \/><input type='hidden' id='answerType15674' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15674[]' id='answer-id-64907' class='answer   answerof-15674 ' value='64907'   \/><label for='answer-id-64907' id='answer-label-64907' class=' answer'><span>Friday, August 6th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15674[]' id='answer-id-64908' class='answer   answerof-15674 ' value='64908'   \/><label for='answer-id-64908' id='answer-label-64908' class=' answer'><span>Friday, September 17th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15674[]' id='answer-id-64909' class='answer   answerof-15674 ' value='64909'   \/><label for='answer-id-64909' id='answer-label-64909' class=' answer'><span>Tuesday, September 21st.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15674[]' id='answer-id-64910' class='answer   answerof-15674 ' value='64910'   \/><label for='answer-id-64910' id='answer-label-64910' class=' answer'><span>none of the above.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-15675'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>On Friday, August 6th, the Board of Directors of Ecolab (ECI) announced that it would pay a dividend of $0.155 a share to shareholders of record as of Tuesday, September 21st.The dividend checks were scheduled to be mailed on Friday, October 15th. In this scenario, the payment date is:<\/div><input type='hidden' name='question_id[]' id='qID_28' value='15675' \/><input type='hidden' id='answerType15675' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15675[]' id='answer-id-64911' class='answer   answerof-15675 ' value='64911'   \/><label for='answer-id-64911' id='answer-label-64911' class=' answer'><span>Friday, August 6th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15675[]' id='answer-id-64912' class='answer   answerof-15675 ' value='64912'   \/><label for='answer-id-64912' id='answer-label-64912' class=' answer'><span>Friday, September 17th.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15675[]' id='answer-id-64913' class='answer   answerof-15675 ' value='64913'   \/><label for='answer-id-64913' id='answer-label-64913' class=' answer'><span>Tuesday, September 21st.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15675[]' id='answer-id-64914' class='answer   answerof-15675 ' value='64914'   \/><label for='answer-id-64914' id='answer-label-64914' class=' answer'><span>none of the above.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-15676'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>Given the same maturity, which of the following debt instruments would you expect to offer the highest yield-to-maturity?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='15676' \/><input type='hidden' id='answerType15676' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15676[]' id='answer-id-64915' class='answer   answerof-15676 ' value='64915'   \/><label for='answer-id-64915' id='answer-label-64915' class=' answer'><span>a debenture issued by Abbott Laboratories<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15676[]' id='answer-id-64916' class='answer   answerof-15676 ' value='64916'   \/><label for='answer-id-64916' id='answer-label-64916' class=' answer'><span>a bond issued by the Federal Home Loan Bank Board<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15676[]' id='answer-id-64917' class='answer   answerof-15676 ' value='64917'   \/><label for='answer-id-64917' id='answer-label-64917' class=' answer'><span>a general obligation bond issued by the state of Massachusetts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15676[]' id='answer-id-64918' class='answer   answerof-15676 ' value='64918'   \/><label for='answer-id-64918' id='answer-label-64918' class=' answer'><span>a<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15676[]' id='answer-id-64919' class='answer   answerof-15676 ' value='64919'   \/><label for='answer-id-64919' id='answer-label-64919' class=' answer'><span>Treasury bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-15677'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Jack purchased a new bond of the Candlestick Corporation for its face value of $1,000. The bond has a coupon rate of 3.5%, makes semiannual interest payments, and matures in fifteen years. A year after purchasing the bond, Jack needs to sell the bond to offset some major expenses he incurred when his home caught on fire. Interest rates in the economy at this time have fallen to 3.0%. <br \/>\r<br>Given this scenario, when Jack sells the bond, he can expect to receive which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='15677' \/><input type='hidden' id='answerType15677' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15677[]' id='answer-id-64920' class='answer   answerof-15677 ' value='64920'   \/><label for='answer-id-64920' id='answer-label-64920' class=' answer'><span>more than what he originally paid for the bond.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15677[]' id='answer-id-64921' class='answer   answerof-15677 ' value='64921'   \/><label for='answer-id-64921' id='answer-label-64921' class=' answer'><span>less than what he originally paid for the bond.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15677[]' id='answer-id-64922' class='answer   answerof-15677 ' value='64922'   \/><label for='answer-id-64922' id='answer-label-64922' class=' answer'><span>exactly what he paid for the bond.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15677[]' id='answer-id-64923' class='answer   answerof-15677 ' value='64923'   \/><label for='answer-id-64923' id='answer-label-64923' class=' answer'><span>$965, which is what he paid for the bond less the $35 in interest he received during his year of owning the bond.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-15678'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>MBIA, Inc., a municipal bond insuring company, has a bond issue that is selling for $80.05 per $100 of par. The bond has a coupon rate of 7%, with semiannual payments, and matures in 2025. The current yield on this bond is:<\/div><input type='hidden' name='question_id[]' id='qID_31' value='15678' \/><input type='hidden' id='answerType15678' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15678[]' id='answer-id-64924' class='answer   answerof-15678 ' value='64924'   \/><label for='answer-id-64924' id='answer-label-64924' class=' answer'><span>8.745%.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15678[]' id='answer-id-64925' class='answer   answerof-15678 ' value='64925'   \/><label for='answer-id-64925' id='answer-label-64925' class=' answer'><span>7.000%.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15678[]' id='answer-id-64926' class='answer   answerof-15678 ' value='64926'   \/><label for='answer-id-64926' id='answer-label-64926' class=' answer'><span>9.550%.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15678[]' id='answer-id-64927' class='answer   answerof-15678 ' value='64927'   \/><label for='answer-id-64927' id='answer-label-64927' class=' answer'><span>none of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-15679'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>MBIA, Inc., a municipal bond insuring company, has a bond issue that is selling for $80.05 to yield 9.5%. The bond has a coupon rate of 7%, with semiannual payments, and matures in 2025.If interest rates in the economy increase, which of the following statements will be true, all else equal? <br \/>\r<br>I. the nominal yield of the bond will increase. <br \/>\r<br>II. the yield-to-maturity of the bond will increase. <br \/>\r<br>III. the current yield of the bond will increase.<\/div><input type='hidden' name='question_id[]' id='qID_32' value='15679' \/><input type='hidden' id='answerType15679' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15679[]' id='answer-id-64928' class='answer   answerof-15679 ' value='64928'   \/><label for='answer-id-64928' id='answer-label-64928' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15679[]' id='answer-id-64929' class='answer   answerof-15679 ' value='64929'   \/><label for='answer-id-64929' id='answer-label-64929' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15679[]' id='answer-id-64930' class='answer   answerof-15679 ' value='64930'   \/><label for='answer-id-64930' id='answer-label-64930' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15679[]' id='answer-id-64931' class='answer   answerof-15679 ' value='64931'   \/><label for='answer-id-64931' id='answer-label-64931' class=' answer'><span>I, II, and III<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-15680'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>A bond has a face value of $1,000, matures in 10 years, and pays an 8% coupon, with interest paid semiannually. If the bond is priced to yield 8.8%, it is selling:<\/div><input type='hidden' name='question_id[]' id='qID_33' value='15680' \/><input type='hidden' id='answerType15680' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15680[]' id='answer-id-64932' class='answer   answerof-15680 ' value='64932'   \/><label for='answer-id-64932' id='answer-label-64932' class=' answer'><span>at par.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15680[]' id='answer-id-64933' class='answer   answerof-15680 ' value='64933'   \/><label for='answer-id-64933' id='answer-label-64933' class=' answer'><span>at a discount.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15680[]' id='answer-id-64934' class='answer   answerof-15680 ' value='64934'   \/><label for='answer-id-64934' id='answer-label-64934' class=' answer'><span>at a premium.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15680[]' id='answer-id-64935' class='answer   answerof-15680 ' value='64935'   \/><label for='answer-id-64935' id='answer-label-64935' class=' answer'><span>at its maturity value.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-15681'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>A bond has a face value of $1,000, matures in 12 years, and pays an 4% coupon, with interest paid semiannually. If the bond is priced to yield 3.5%, it is selling:<\/div><input type='hidden' name='question_id[]' id='qID_34' value='15681' \/><input type='hidden' id='answerType15681' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15681[]' id='answer-id-64936' class='answer   answerof-15681 ' value='64936'   \/><label for='answer-id-64936' id='answer-label-64936' class=' answer'><span>at par.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15681[]' id='answer-id-64937' class='answer   answerof-15681 ' value='64937'   \/><label for='answer-id-64937' id='answer-label-64937' class=' answer'><span>at a discount.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15681[]' id='answer-id-64938' class='answer   answerof-15681 ' value='64938'   \/><label for='answer-id-64938' id='answer-label-64938' class=' answer'><span>at a premium.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15681[]' id='answer-id-64939' class='answer   answerof-15681 ' value='64939'   \/><label for='answer-id-64939' id='answer-label-64939' class=' answer'><span>at its maturity value.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-15682'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Which of the following is not a function performed by an investment banker as part of a full commitment underwriting?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='15682' \/><input type='hidden' id='answerType15682' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15682[]' id='answer-id-64940' class='answer   answerof-15682 ' value='64940'   \/><label for='answer-id-64940' id='answer-label-64940' class=' answer'><span>provides advice to the issuing firm on the projects in which it should invest the money raised<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15682[]' id='answer-id-64941' class='answer   answerof-15682 ' value='64941'   \/><label for='answer-id-64941' id='answer-label-64941' class=' answer'><span>provides advice to the issuing firm on what type of security should be issued in order to raise the funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15682[]' id='answer-id-64942' class='answer   answerof-15682 ' value='64942'   \/><label for='answer-id-64942' id='answer-label-64942' class=' answer'><span>purchases the securities from the issuing firm<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15682[]' id='answer-id-64943' class='answer   answerof-15682 ' value='64943'   \/><label for='answer-id-64943' id='answer-label-64943' class=' answer'><span>provides short-term price support for the security after it begins trading in the secondary market<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-15683'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>A bond issued by the Needy Corporation pays an 8% coupon, matures in ten years, and is selling for its face value of $1,000. The yield-to-maturity on this bond is:<\/div><input type='hidden' name='question_id[]' id='qID_36' value='15683' \/><input type='hidden' id='answerType15683' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15683[]' id='answer-id-64944' class='answer   answerof-15683 ' value='64944'   \/><label for='answer-id-64944' id='answer-label-64944' class=' answer'><span>less than its coupon rate of 8%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15683[]' id='answer-id-64945' class='answer   answerof-15683 ' value='64945'   \/><label for='answer-id-64945' id='answer-label-64945' class=' answer'><span>greater than its coupon rate of 8%.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15683[]' id='answer-id-64946' class='answer   answerof-15683 ' value='64946'   \/><label for='answer-id-64946' id='answer-label-64946' class=' answer'><span>equal to its coupon rate of 8%.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15683[]' id='answer-id-64947' class='answer   answerof-15683 ' value='64947'   \/><label for='answer-id-64947' id='answer-label-64947' class=' answer'><span>indeterminable with the information provided.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-15684'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Which of the following bonds will experience the greatest percentage change in price for a given change in interest rates?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='15684' \/><input type='hidden' id='answerType15684' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15684[]' id='answer-id-64948' class='answer   answerof-15684 ' value='64948'   \/><label for='answer-id-64948' id='answer-label-64948' class=' answer'><span>a bond with 5 years to maturity that pays a 5% coupon<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15684[]' id='answer-id-64949' class='answer   answerof-15684 ' value='64949'   \/><label for='answer-id-64949' id='answer-label-64949' class=' answer'><span>a bond with 10 years to maturity that pays a 5% coupon<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15684[]' id='answer-id-64950' class='answer   answerof-15684 ' value='64950'   \/><label for='answer-id-64950' id='answer-label-64950' class=' answer'><span>a bond with 5 years to maturity that pays a 7% coupon<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15684[]' id='answer-id-64951' class='answer   answerof-15684 ' value='64951'   \/><label for='answer-id-64951' id='answer-label-64951' class=' answer'><span>a bond with 10 years to maturity that pays a 7% coupon<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-15685'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Pete Prophet, the manager of a bond mutual fund, is expecting interest rates to increase. All else equal, which of the following bonds would be the best investment under this assumption?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='15685' \/><input type='hidden' id='answerType15685' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15685[]' id='answer-id-64952' class='answer   answerof-15685 ' value='64952'   \/><label for='answer-id-64952' id='answer-label-64952' class=' answer'><span>a Treasury strip with 15 years to maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15685[]' id='answer-id-64953' class='answer   answerof-15685 ' value='64953'   \/><label for='answer-id-64953' id='answer-label-64953' class=' answer'><span>a bond with a 10% coupon and 5 years to maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15685[]' id='answer-id-64954' class='answer   answerof-15685 ' value='64954'   \/><label for='answer-id-64954' id='answer-label-64954' class=' answer'><span>a bond with a 5% coupon and 10 years to maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15685[]' id='answer-id-64955' class='answer   answerof-15685 ' value='64955'   \/><label for='answer-id-64955' id='answer-label-64955' class=' answer'><span>a zero-coupon corporate bond with 12 years to maturity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-15686'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Common stock and preferred stock differ in that:<\/div><input type='hidden' name='question_id[]' id='qID_39' value='15686' \/><input type='hidden' id='answerType15686' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15686[]' id='answer-id-64956' class='answer   answerof-15686 ' value='64956'   \/><label for='answer-id-64956' id='answer-label-64956' class=' answer'><span>the firm is legally mandated to make the dividend payments on its preferred stock; there is no legal obligation to make dividend payments on its common stock.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15686[]' id='answer-id-64957' class='answer   answerof-15686 ' value='64957'   \/><label for='answer-id-64957' id='answer-label-64957' class=' answer'><span>common stock pays a fixed dividend while the dividend associated with preferred stock will typically increase as the earnings of the firm increases.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15686[]' id='answer-id-64958' class='answer   answerof-15686 ' value='64958'   \/><label for='answer-id-64958' id='answer-label-64958' class=' answer'><span>preferred stockholders have more voting rights than the common stockholders of the firm.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15686[]' id='answer-id-64959' class='answer   answerof-15686 ' value='64959'   \/><label for='answer-id-64959' id='answer-label-64959' class=' answer'><span>preferred stockholders will receive their part of the proceeds if the firm is liquidated before the common shareholders receive anything.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-15687'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>An ADR is:<\/div><input type='hidden' name='question_id[]' id='qID_40' value='15687' \/><input type='hidden' id='answerType15687' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15687[]' id='answer-id-64960' class='answer   answerof-15687 ' value='64960'   \/><label for='answer-id-64960' id='answer-label-64960' class=' answer'><span>a bond issued by an American firm that is denominated in dollars, but is sold to foreign investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15687[]' id='answer-id-64961' class='answer   answerof-15687 ' value='64961'   \/><label for='answer-id-64961' id='answer-label-64961' class=' answer'><span>a receipt designating ownership of shares of a foreign stock that are held in a trust.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15687[]' id='answer-id-64962' class='answer   answerof-15687 ' value='64962'   \/><label for='answer-id-64962' id='answer-label-64962' class=' answer'><span>another name for bankers\u2019 acceptances.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15687[]' id='answer-id-64963' class='answer   answerof-15687 ' value='64963'   \/><label for='answer-id-64963' id='answer-label-64963' class=' answer'><span>a certificate of deposit offered by a foreign bank that is denominated in<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15687[]' id='answer-id-64964' class='answer   answerof-15687 ' value='64964'   \/><label for='answer-id-64964' id='answer-label-64964' class=' answer'><span>dollars.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-15688'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>A preemptive right:<\/div><input type='hidden' name='question_id[]' id='qID_41' value='15688' \/><input type='hidden' id='answerType15688' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15688[]' id='answer-id-64965' class='answer   answerof-15688 ' value='64965'   \/><label for='answer-id-64965' id='answer-label-64965' class=' answer'><span>is a call option that is usually attached to a bond as a sweetener.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15688[]' id='answer-id-64966' class='answer   answerof-15688 ' value='64966'   \/><label for='answer-id-64966' id='answer-label-64966' class=' answer'><span>gives a bond owner the option to sell the bond back to the issuer at a pre-specified price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15688[]' id='answer-id-64967' class='answer   answerof-15688 ' value='64967'   \/><label for='answer-id-64967' id='answer-label-64967' class=' answer'><span>entitles its owner to buy shares of stock at a specified price within a specified time period in order to maintain his proportionate ownership in the firm.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15688[]' id='answer-id-64968' class='answer   answerof-15688 ' value='64968'   \/><label for='answer-id-64968' id='answer-label-64968' class=' answer'><span>is a feature on some preferred stock issues that allows the preferred shareholders to exchange their preferred shares for shares of the common stock of the firm.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-15689'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Mr. Investor has purchased 100 shares of the common stock of the Everyman Corporation. As such, which of the following is not a right that Mr. Investor has?<\/div><input type='hidden' name='question_id[]' id='qID_42' value='15689' \/><input type='hidden' id='answerType15689' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15689[]' id='answer-id-64969' class='answer   answerof-15689 ' value='64969'   \/><label for='answer-id-64969' id='answer-label-64969' class=' answer'><span>the right to receive dividends, if declared<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15689[]' id='answer-id-64970' class='answer   answerof-15689 ' value='64970'   \/><label for='answer-id-64970' id='answer-label-64970' class=' answer'><span>the right to vote on the members of Everyman\u2019s board of directors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15689[]' id='answer-id-64971' class='answer   answerof-15689 ' value='64971'   \/><label for='answer-id-64971' id='answer-label-64971' class=' answer'><span>the right to vote on any proposed changes to the corporate bylaws<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15689[]' id='answer-id-64972' class='answer   answerof-15689 ' value='64972'   \/><label for='answer-id-64972' id='answer-label-64972' class=' answer'><span>the right to vote on the purchase of a major piece of property that Everyman is considering<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-15690'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>A feature that gives a bondholder or the owner of preferred stock of a corporation the option to exchange his security for shares of the common stock of the firm is called a:<\/div><input type='hidden' name='question_id[]' id='qID_43' value='15690' \/><input type='hidden' id='answerType15690' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15690[]' id='answer-id-64973' class='answer   answerof-15690 ' value='64973'   \/><label for='answer-id-64973' id='answer-label-64973' class=' answer'><span>call feature.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15690[]' id='answer-id-64974' class='answer   answerof-15690 ' value='64974'   \/><label for='answer-id-64974' id='answer-label-64974' class=' answer'><span>warrant.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15690[]' id='answer-id-64975' class='answer   answerof-15690 ' value='64975'   \/><label for='answer-id-64975' id='answer-label-64975' class=' answer'><span>convertible feature.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15690[]' id='answer-id-64976' class='answer   answerof-15690 ' value='64976'   \/><label for='answer-id-64976' id='answer-label-64976' class=' answer'><span>right.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-15691'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>The stock of Southwest Airlines (LUV) is selling for $11.77 in mid-September. An October put on the stock is selling for $1.45 and gives the owner the right to sell the stock for $13.00 prior to its expiration. In this example, the option premium is:<\/div><input type='hidden' name='question_id[]' id='qID_44' value='15691' \/><input type='hidden' id='answerType15691' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15691[]' id='answer-id-64977' class='answer   answerof-15691 ' value='64977'   \/><label for='answer-id-64977' id='answer-label-64977' class=' answer'><span>$13.00.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15691[]' id='answer-id-64978' class='answer   answerof-15691 ' value='64978'   \/><label for='answer-id-64978' id='answer-label-64978' class=' answer'><span>$1.23.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15691[]' id='answer-id-64979' class='answer   answerof-15691 ' value='64979'   \/><label for='answer-id-64979' id='answer-label-64979' class=' answer'><span>$1.45.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15691[]' id='answer-id-64980' class='answer   answerof-15691 ' value='64980'   \/><label for='answer-id-64980' id='answer-label-64980' class=' answer'><span>$11.77.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-15692'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>In mid-September, the stock of Oracle (ORCL) is selling for $25.60 a share. Ms. Hedge owns shares of Oracle and buys a put option on the stock with a strike price of $27 that expires in October for $2.20 per optioned share. Just prior to expiration, Oracle\u2019s stock is selling for $29. Ms. Hedge should:<\/div><input type='hidden' name='question_id[]' id='qID_45' value='15692' \/><input type='hidden' id='answerType15692' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15692[]' id='answer-id-64981' class='answer   answerof-15692 ' value='64981'   \/><label for='answer-id-64981' id='answer-label-64981' class=' answer'><span>let her option expire worthless.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15692[]' id='answer-id-64982' class='answer   answerof-15692 ' value='64982'   \/><label for='answer-id-64982' id='answer-label-64982' class=' answer'><span>exercise her option and sell Oracle for $29 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15692[]' id='answer-id-64983' class='answer   answerof-15692 ' value='64983'   \/><label for='answer-id-64983' id='answer-label-64983' class=' answer'><span>exercise her option and buy more shares of Oracle for $27 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15692[]' id='answer-id-64984' class='answer   answerof-15692 ' value='64984'   \/><label for='answer-id-64984' id='answer-label-64984' class=' answer'><span>exercise her option and sell Oracle for $27 a share.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-15693'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>In mid-September, the stock of Amazon.com, Inc. (AMZN) is selling for $147.A January call option on the stock is selling for $6.10 and has a strike price of $160. This call option is:<\/div><input type='hidden' name='question_id[]' id='qID_46' value='15693' \/><input type='hidden' id='answerType15693' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15693[]' id='answer-id-64985' class='answer   answerof-15693 ' value='64985'   \/><label for='answer-id-64985' id='answer-label-64985' class=' answer'><span>at the money.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15693[]' id='answer-id-64986' class='answer   answerof-15693 ' value='64986'   \/><label for='answer-id-64986' id='answer-label-64986' class=' answer'><span>in the money.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15693[]' id='answer-id-64987' class='answer   answerof-15693 ' value='64987'   \/><label for='answer-id-64987' id='answer-label-64987' class=' answer'><span>out of the money.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15693[]' id='answer-id-64988' class='answer   answerof-15693 ' value='64988'   \/><label for='answer-id-64988' id='answer-label-64988' class=' answer'><span>overpriced. No one should pay $6.10 for the right to buy a share of stock for $160 when its current market price is only $147.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-15694'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>A warrant differs from a standard call option in that:<\/div><input type='hidden' name='question_id[]' id='qID_47' value='15694' \/><input type='hidden' id='answerType15694' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15694[]' id='answer-id-64989' class='answer   answerof-15694 ' value='64989'   \/><label for='answer-id-64989' id='answer-label-64989' class=' answer'><span>a standard call option generally has a longer period to expiration than a warrant.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15694[]' id='answer-id-64990' class='answer   answerof-15694 ' value='64990'   \/><label for='answer-id-64990' id='answer-label-64990' class=' answer'><span>when a warrant is exercised, the firm whose stock is being purchased will have an increase in cash; this is not the case when a standard call option is exercised.a warrant gives the holder the right to sell shares of the underlying stock; a call option gives the holder the right to buy shares of the underlying stock.when a call option is exercised, the outstanding shares of the firm whose stock is being purchased increases; this does not occur when a warrant is exercised.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-15695'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>A type of preferred stock for which any dividends missed in prior years must be paid before common shareholders may receive any dividends is referred to as:<\/div><input type='hidden' name='question_id[]' id='qID_48' value='15695' \/><input type='hidden' id='answerType15695' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15695[]' id='answer-id-64991' class='answer   answerof-15695 ' value='64991'   \/><label for='answer-id-64991' id='answer-label-64991' class=' answer'><span>cumulative preferred.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15695[]' id='answer-id-64992' class='answer   answerof-15695 ' value='64992'   \/><label for='answer-id-64992' id='answer-label-64992' class=' answer'><span>participating preferred.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15695[]' id='answer-id-64993' class='answer   answerof-15695 ' value='64993'   \/><label for='answer-id-64993' id='answer-label-64993' class=' answer'><span>convertible preferred.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15695[]' id='answer-id-64994' class='answer   answerof-15695 ' value='64994'   \/><label for='answer-id-64994' id='answer-label-64994' class=' answer'><span>adjustable rate preferred.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-15696'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>The stock of Hasbro Corporation (HAS) is selling for $44.50 and pays a dividend of $1.00 a share. What is its dividend yield, rounded to the nearest hundredth of a percent?<\/div><input type='hidden' name='question_id[]' id='qID_49' value='15696' \/><input type='hidden' id='answerType15696' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15696[]' id='answer-id-64995' class='answer   answerof-15696 ' value='64995'   \/><label for='answer-id-64995' id='answer-label-64995' class=' answer'><span>1.00%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15696[]' id='answer-id-64996' class='answer   answerof-15696 ' value='64996'   \/><label for='answer-id-64996' id='answer-label-64996' class=' answer'><span>2.25%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15696[]' id='answer-id-64997' class='answer   answerof-15696 ' value='64997'   \/><label for='answer-id-64997' id='answer-label-64997' class=' answer'><span>4.45%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15696[]' id='answer-id-64998' class='answer   answerof-15696 ' value='64998'   \/><label for='answer-id-64998' id='answer-label-64998' class=' answer'><span>none of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-15697'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>Simple Simon owns 1,000 shares in the Pasty Pie Corporation, which has just declared a stock dividend of 5%. Just prior to this announcement, Pasty Pie was selling for $10 a share. This announcement will:<\/div><input type='hidden' name='question_id[]' id='qID_50' value='15697' \/><input type='hidden' id='answerType15697' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15697[]' id='answer-id-64999' class='answer   answerof-15697 ' value='64999'   \/><label for='answer-id-64999' id='answer-label-64999' class=' answer'><span>increase Pasty\u2019s shares outstanding and reduce Simple\u2019s proportionate ownership in the firm.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15697[]' id='answer-id-65000' class='answer   answerof-15697 ' value='65000'   \/><label for='answer-id-65000' id='answer-label-65000' class=' answer'><span>increase the number of shares that Simple owns to 1,050, which will increase the market value of the shares that he owns from $10,000 to $10,500.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15697[]' id='answer-id-65001' class='answer   answerof-15697 ' value='65001'   \/><label for='answer-id-65001' id='answer-label-65001' class=' answer'><span>increase the number of shares that Simple owns to 1,050, but this will not affect the market value of Simple\u2019s holdings.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15697[]' id='answer-id-65002' class='answer   answerof-15697 ' value='65002'   \/><label for='answer-id-65002' id='answer-label-65002' class=' answer'><span>increase Simple\u2019s cash by the amount of the dividend paid: 0.05 x $10 = $0.50 x 1,000 shares = $500.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-15698'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>Cliff places an order to sell 500 shares of the stock of Gap, Inc. (GPS) via his broker\u2019s website. Cliff does not currently own any shares of GPS. This order is:<\/div><input type='hidden' name='question_id[]' id='qID_51' value='15698' \/><input type='hidden' id='answerType15698' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15698[]' id='answer-id-65003' class='answer   answerof-15698 ' value='65003'   \/><label for='answer-id-65003' id='answer-label-65003' class=' answer'><span>illegal, and the broker\u2019s website will reject it.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15698[]' id='answer-id-65004' class='answer   answerof-15698 ' value='65004'   \/><label for='answer-id-65004' id='answer-label-65004' class=' answer'><span>an example of a stop loss order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15698[]' id='answer-id-65005' class='answer   answerof-15698 ' value='65005'   \/><label for='answer-id-65005' id='answer-label-65005' class=' answer'><span>referred to as a short sale.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15698[]' id='answer-id-65006' class='answer   answerof-15698 ' value='65006'   \/><label for='answer-id-65006' id='answer-label-65006' class=' answer'><span>indicating that Cliff expects the price of Gap, Inc. to rise.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-15699'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>An order to buy or sell a stock at the prevailing market price is called a(n):<\/div><input type='hidden' name='question_id[]' id='qID_52' value='15699' \/><input type='hidden' id='answerType15699' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15699[]' id='answer-id-65007' class='answer   answerof-15699 ' value='65007'   \/><label for='answer-id-65007' id='answer-label-65007' class=' answer'><span>open-ended order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15699[]' id='answer-id-65008' class='answer   answerof-15699 ' value='65008'   \/><label for='answer-id-65008' id='answer-label-65008' class=' answer'><span>market order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15699[]' id='answer-id-65009' class='answer   answerof-15699 ' value='65009'   \/><label for='answer-id-65009' id='answer-label-65009' class=' answer'><span>stop order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15699[]' id='answer-id-65010' class='answer   answerof-15699 ' value='65010'   \/><label for='answer-id-65010' id='answer-label-65010' class=' answer'><span>limit order.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-15700'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>The stock of Nutrisystem, Inc. (NTRI) is selling for $17.70 when Miss Piggy places a limit order to buy the stock at $17.65. During the period the order is open, NTRI falls to $17.60 and then increases to $17.67. <br \/>\r<br>Which of the following statements is most likely to be true in this scenario?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='15700' \/><input type='hidden' id='answerType15700' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15700[]' id='answer-id-65011' class='answer   answerof-15700 ' value='65011'   \/><label for='answer-id-65011' id='answer-label-65011' class=' answer'><span>Miss Piggy bought NTRI at $17.67 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15700[]' id='answer-id-65012' class='answer   answerof-15700 ' value='65012'   \/><label for='answer-id-65012' id='answer-label-65012' class=' answer'><span>Miss Piggy bought the stock for no more than $17.65 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15700[]' id='answer-id-65013' class='answer   answerof-15700 ' value='65013'   \/><label for='answer-id-65013' id='answer-label-65013' class=' answer'><span>Miss Piggy bought the stock for no more than $17.60 a share.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15700[]' id='answer-id-65014' class='answer   answerof-15700 ' value='65014'   \/><label for='answer-id-65014' id='answer-label-65014' class=' answer'><span>Miss Piggy bought the stock for $17.66 a share.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-15701'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>Mr. A. D. Venturer owns 10,000 shares of Risky Corporation, which is currently selling for $8 a share. He is leaving shortly for an extended trip to Antarctica and will be out of communication for that time. He doesn\u2019t want to liquidate his investment in Risky before he goes, but he doesn\u2019t want to return to find that his $80,000 investment is worth little to nothing.<br \/>\r\n<br \/>\r\nWhich of the following options would make sense for Mr. Venturer?<\/div><input type='hidden' name='question_id[]' id='qID_54' value='15701' \/><input type='hidden' id='answerType15701' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15701[]' id='answer-id-65015' class='answer   answerof-15701 ' value='65015'   \/><label for='answer-id-65015' id='answer-label-65015' class=' answer'><span>buy a call option on Risky stock with an $8 strike price and an expiration date that occurs after his return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15701[]' id='answer-id-65016' class='answer   answerof-15701 ' value='65016'   \/><label for='answer-id-65016' id='answer-label-65016' class=' answer'><span>place a stop sell order at a price less than $8 a share-perhaps $6 or $7 a share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15701[]' id='answer-id-65017' class='answer   answerof-15701 ' value='65017'   \/><label for='answer-id-65017' id='answer-label-65017' class=' answer'><span>place a limit order to sell Risky at either $8 a share or a price slightly less than $8 a share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15701[]' id='answer-id-65018' class='answer   answerof-15701 ' value='65018'   \/><label for='answer-id-65018' id='answer-label-65018' class=' answer'><span>enter a good 'til cancelled (GTC) market order to sell Risky<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-15702'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>A long-term, unsecured bond issued by a corporation is called:<\/div><input type='hidden' name='question_id[]' id='qID_55' value='15702' \/><input type='hidden' id='answerType15702' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15702[]' id='answer-id-65019' class='answer   answerof-15702 ' value='65019'   \/><label for='answer-id-65019' id='answer-label-65019' class=' answer'><span>a debenture.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15702[]' id='answer-id-65020' class='answer   answerof-15702 ' value='65020'   \/><label for='answer-id-65020' id='answer-label-65020' class=' answer'><span>a general obligation bond.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15702[]' id='answer-id-65021' class='answer   answerof-15702 ' value='65021'   \/><label for='answer-id-65021' id='answer-label-65021' class=' answer'><span>commercial paper.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15702[]' id='answer-id-65022' class='answer   answerof-15702 ' value='65022'   \/><label for='answer-id-65022' id='answer-label-65022' class=' answer'><span>an industrial revenue bond.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-15703'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Which of the following is not a secured debt issue?<\/div><input type='hidden' name='question_id[]' id='qID_56' value='15703' \/><input type='hidden' id='answerType15703' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15703[]' id='answer-id-65023' class='answer   answerof-15703 ' value='65023'   \/><label for='answer-id-65023' id='answer-label-65023' class=' answer'><span>a collateral trust receipt<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15703[]' id='answer-id-65024' class='answer   answerof-15703 ' value='65024'   \/><label for='answer-id-65024' id='answer-label-65024' class=' answer'><span>a subordinated debenture<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15703[]' id='answer-id-65025' class='answer   answerof-15703 ' value='65025'   \/><label for='answer-id-65025' id='answer-label-65025' class=' answer'><span>an equipment trust receipt<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15703[]' id='answer-id-65026' class='answer   answerof-15703 ' value='65026'   \/><label for='answer-id-65026' id='answer-label-65026' class=' answer'><span>a mortgage bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-15704'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Steel Dynamics (STLD) has a convertible bond issue that matures in four years. The bond has a face value of $1,000 and pays a coupon of 5.125%, with interest paid semiannually. The conversion ratio is 56.9801. If the stock of Steel Dynamics is currently priced at $15 a share, what is the conversion value of this bond, to the nearest cent?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='15704' \/><input type='hidden' id='answerType15704' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15704[]' id='answer-id-65027' class='answer   answerof-15704 ' value='65027'   \/><label for='answer-id-65027' id='answer-label-65027' class=' answer'><span>$854.70<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15704[]' id='answer-id-65028' class='answer   answerof-15704 ' value='65028'   \/><label for='answer-id-65028' id='answer-label-65028' class=' answer'><span>$569.80<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15704[]' id='answer-id-65029' class='answer   answerof-15704 ' value='65029'   \/><label for='answer-id-65029' id='answer-label-65029' class=' answer'><span>$175.50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15704[]' id='answer-id-65030' class='answer   answerof-15704 ' value='65030'   \/><label for='answer-id-65030' id='answer-label-65030' class=' answer'><span>Until it matures, the conversion value of the bond is equal to its face value of $1,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-15705'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>Which of the following relationships regarding shares of common stock are necessarily true? <br \/>\r<br>I. shares outstanding &gt; issued shares <br \/>\r<br>II. authorized shares \u2265 issued shares <br \/>\r<br>III. issued shares = treasury shares <br \/>\r<br>IV. issued shares \u2265 shares outstanding<\/div><input type='hidden' name='question_id[]' id='qID_58' value='15705' \/><input type='hidden' id='answerType15705' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15705[]' id='answer-id-65031' class='answer   answerof-15705 ' value='65031'   \/><label for='answer-id-65031' id='answer-label-65031' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15705[]' id='answer-id-65032' class='answer   answerof-15705 ' value='65032'   \/><label for='answer-id-65032' id='answer-label-65032' class=' answer'><span>II and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15705[]' id='answer-id-65033' class='answer   answerof-15705 ' value='65033'   \/><label for='answer-id-65033' id='answer-label-65033' class=' answer'><span>I, II, and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15705[]' id='answer-id-65034' class='answer   answerof-15705 ' value='65034'   \/><label for='answer-id-65034' id='answer-label-65034' class=' answer'><span>II, III, and IV only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-15706'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>Which of the following statements regarding zero-coupon bonds is true?<\/div><input type='hidden' name='question_id[]' id='qID_59' value='15706' \/><input type='hidden' id='answerType15706' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15706[]' id='answer-id-65035' class='answer   answerof-15706 ' value='65035'   \/><label for='answer-id-65035' id='answer-label-65035' class=' answer'><span>An advantage of investing in zero -coupon bonds is that the bondholder does not receive interest income that he must pay taxes on each year and instead receives profits from the bond investment in the form of tax-preferred capital gain income when the bond matures.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15706[]' id='answer-id-65036' class='answer   answerof-15706 ' value='65036'   \/><label for='answer-id-65036' id='answer-label-65036' class=' answer'><span>Only governments at the federal, state, or local levels, or government agencies are permitted to issue zero-coupon bonds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15706[]' id='answer-id-65037' class='answer   answerof-15706 ' value='65037'   \/><label for='answer-id-65037' id='answer-label-65037' class=' answer'><span>All else equal, zero-coupon bonds will have less price fluctuation when interest rates change.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15706[]' id='answer-id-65038' class='answer   answerof-15706 ' value='65038'   \/><label for='answer-id-65038' id='answer-label-65038' class=' answer'><span>Although the bondholder receives no interim interest payments from his investment in zero -coupon bonds, the difference between the purchase price and the maturity value of the bond is considered to be interest income, and the bondholder must pay taxes on a percentage of this amount each year.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-15707'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>Which of the following statements regarding CMOs is false?<\/div><input type='hidden' name='question_id[]' id='qID_60' value='15707' \/><input type='hidden' id='answerType15707' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15707[]' id='answer-id-65039' class='answer   answerof-15707 ' value='65039'   \/><label for='answer-id-65039' id='answer-label-65039' class=' answer'><span>CMOs are zero-coupon bonds that are backed by real estate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15707[]' id='answer-id-65040' class='answer   answerof-15707 ' value='65040'   \/><label for='answer-id-65040' id='answer-label-65040' class=' answer'><span>Relative to other bonds, CMOs are illiquid.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15707[]' id='answer-id-65041' class='answer   answerof-15707 ' value='65041'   \/><label for='answer-id-65041' id='answer-label-65041' class=' answer'><span>CMO investors are divided into classes, and the class determines when the investor will receive payments of principal.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15707[]' id='answer-id-65042' class='answer   answerof-15707 ' value='65042'   \/><label for='answer-id-65042' id='answer-label-65042' class=' answer'><span>CMOs are considered to have lower risk and, therefore, offer lower returns.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-15708'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>You have a client, Richie Rich, who is in the 39.6% marginal tax bracket, and one of his investment goals is to minimize his payments to the IRS. <br \/>\r<br>Which of the following instruments would serve this purpose?<\/div><input type='hidden' name='question_id[]' id='qID_61' value='15708' \/><input type='hidden' id='answerType15708' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15708[]' id='answer-id-65043' class='answer   answerof-15708 ' value='65043'   \/><label for='answer-id-65043' id='answer-label-65043' class=' answer'><span>Treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15708[]' id='answer-id-65044' class='answer   answerof-15708 ' value='65044'   \/><label for='answer-id-65044' id='answer-label-65044' class=' answer'><span>general obligation bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15708[]' id='answer-id-65045' class='answer   answerof-15708 ' value='65045'   \/><label for='answer-id-65045' id='answer-label-65045' class=' answer'><span>an investment-grade corporate bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15708[]' id='answer-id-65046' class='answer   answerof-15708 ' value='65046'   \/><label for='answer-id-65046' id='answer-label-65046' class=' answer'><span>Both Selections A and B would serve to minimize his payments to the IR<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-15709'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>Which of the following statements regarding callable bonds is false?<\/div><input type='hidden' name='question_id[]' id='qID_62' value='15709' \/><input type='hidden' id='answerType15709' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15709[]' id='answer-id-65047' class='answer   answerof-15709 ' value='65047'   \/><label for='answer-id-65047' id='answer-label-65047' class=' answer'><span>Callable bonds offer a higher yield than non-callable bonds, all else equal.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15709[]' id='answer-id-65048' class='answer   answerof-15709 ' value='65048'   \/><label for='answer-id-65048' id='answer-label-65048' class=' answer'><span>Investors in callable bonds are subject to prepayment risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15709[]' id='answer-id-65049' class='answer   answerof-15709 ' value='65049'   \/><label for='answer-id-65049' id='answer-label-65049' class=' answer'><span>The issuer of a callable bond is most likely to redeem the bond early when interest rates fall.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15709[]' id='answer-id-65050' class='answer   answerof-15709 ' value='65050'   \/><label for='answer-id-65050' id='answer-label-65050' class=' answer'><span>A callable bond protects the investor by allowing him to sell his bond back to the issuer and invest in another, similar-risk bond that pays a higher rate of interest should the investor choose to do so.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-15710'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>Which of the following securities always sell at a discount from their face values? <br \/>\r<br>I. Treasury bills <br \/>\r<br>II. Treasury notes <br \/>\r<br>III. industrial revenue bonds <br \/>\r<br>IV. banker\u2019s acceptances<\/div><input type='hidden' name='question_id[]' id='qID_63' value='15710' \/><input type='hidden' id='answerType15710' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15710[]' id='answer-id-65051' class='answer   answerof-15710 ' value='65051'   \/><label for='answer-id-65051' id='answer-label-65051' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15710[]' id='answer-id-65052' class='answer   answerof-15710 ' value='65052'   \/><label for='answer-id-65052' id='answer-label-65052' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15710[]' id='answer-id-65053' class='answer   answerof-15710 ' value='65053'   \/><label for='answer-id-65053' id='answer-label-65053' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15710[]' id='answer-id-65054' class='answer   answerof-15710 ' value='65054'   \/><label for='answer-id-65054' id='answer-label-65054' class=' answer'><span>I and IV only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-15711'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>Which of the following is true about treasury bonds?<\/div><input type='hidden' name='question_id[]' id='qID_64' value='15711' \/><input type='hidden' id='answerType15711' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15711[]' id='answer-id-65055' class='answer   answerof-15711 ' value='65055'   \/><label for='answer-id-65055' id='answer-label-65055' class=' answer'><span>have no default risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15711[]' id='answer-id-65056' class='answer   answerof-15711 ' value='65056'   \/><label for='answer-id-65056' id='answer-label-65056' class=' answer'><span>have no interest-rate risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15711[]' id='answer-id-65057' class='answer   answerof-15711 ' value='65057'   \/><label for='answer-id-65057' id='answer-label-65057' class=' answer'><span>have no prepayment risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15711[]' id='answer-id-65058' class='answer   answerof-15711 ' value='65058'   \/><label for='answer-id-65058' id='answer-label-65058' class=' answer'><span>are totally risk-free.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-15712'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>Which of the following is not a money market security?<\/div><input type='hidden' name='question_id[]' id='qID_65' value='15712' \/><input type='hidden' id='answerType15712' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15712[]' id='answer-id-65059' class='answer   answerof-15712 ' value='65059'   \/><label for='answer-id-65059' id='answer-label-65059' class=' answer'><span>commercial paper<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15712[]' id='answer-id-65060' class='answer   answerof-15712 ' value='65060'   \/><label for='answer-id-65060' id='answer-label-65060' class=' answer'><span>negotiable certificates of deposit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15712[]' id='answer-id-65061' class='answer   answerof-15712 ' value='65061'   \/><label for='answer-id-65061' id='answer-label-65061' class=' answer'><span>common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15712[]' id='answer-id-65062' class='answer   answerof-15712 ' value='65062'   \/><label for='answer-id-65062' id='answer-label-65062' class=' answer'><span>Treasury bills<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-15713'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>Which of the following is true about a hedge fund?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='15713' \/><input type='hidden' id='answerType15713' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15713[]' id='answer-id-65063' class='answer   answerof-15713 ' value='65063'   \/><label for='answer-id-65063' id='answer-label-65063' class=' answer'><span>It is designed to help investors hedge their risk and, as such, is a low risk alternative to a mutual fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15713[]' id='answer-id-65064' class='answer   answerof-15713 ' value='65064'   \/><label for='answer-id-65064' id='answer-label-65064' class=' answer'><span>It is closed to all but sophisticated, wealthy investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15713[]' id='answer-id-65065' class='answer   answerof-15713 ' value='65065'   \/><label for='answer-id-65065' id='answer-label-65065' class=' answer'><span>It is more liquid than almost any investment other than a money market mutual fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15713[]' id='answer-id-65066' class='answer   answerof-15713 ' value='65066'   \/><label for='answer-id-65066' id='answer-label-65066' class=' answer'><span>It has very low management fees since it is passively managed.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-15714'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>Which of the following is not an advantage that an exchange traded fund (ETF) has over a traditional mutual fund?<\/div><input type='hidden' name='question_id[]' id='qID_67' value='15714' \/><input type='hidden' id='answerType15714' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15714[]' id='answer-id-65067' class='answer   answerof-15714 ' value='65067'   \/><label for='answer-id-65067' id='answer-label-65067' class=' answer'><span>There are no fees (i.e., loads, commissions) associated with buying and selling ETFs.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15714[]' id='answer-id-65068' class='answer   answerof-15714 ' value='65068'   \/><label for='answer-id-65068' id='answer-label-65068' class=' answer'><span>ETFs trade continuously throughout the day.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15714[]' id='answer-id-65069' class='answer   answerof-15714 ' value='65069'   \/><label for='answer-id-65069' id='answer-label-65069' class=' answer'><span>Investors can use limit and stop orders when trading ETFs.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15714[]' id='answer-id-65070' class='answer   answerof-15714 ' value='65070'   \/><label for='answer-id-65070' id='answer-label-65070' class=' answer'><span>All of the above are advantages that an ETF has over a traditional mutual fund.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-15715'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>Commercial paper is:<\/div><input type='hidden' name='question_id[]' id='qID_68' value='15715' \/><input type='hidden' id='answerType15715' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15715[]' id='answer-id-65071' class='answer   answerof-15715 ' value='65071'   \/><label for='answer-id-65071' id='answer-label-65071' class=' answer'><span>long-term debt issued by commercial banks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15715[]' id='answer-id-65072' class='answer   answerof-15715 ' value='65072'   \/><label for='answer-id-65072' id='answer-label-65072' class=' answer'><span>short-term, unsecured debt issued by large corporations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15715[]' id='answer-id-65073' class='answer   answerof-15715 ' value='65073'   \/><label for='answer-id-65073' id='answer-label-65073' class=' answer'><span>issued with maturities of 1 to 2 years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15715[]' id='answer-id-65074' class='answer   answerof-15715 ' value='65074'   \/><label for='answer-id-65074' id='answer-label-65074' class=' answer'><span>short-term debt that is backed by stocks and bonds that the issuing firm owns.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-15716'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>A general decrease in price levels in the economy is referred to as:<\/div><input type='hidden' name='question_id[]' id='qID_69' value='15716' \/><input type='hidden' id='answerType15716' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15716[]' id='answer-id-65075' class='answer   answerof-15716 ' value='65075'   \/><label for='answer-id-65075' id='answer-label-65075' class=' answer'><span>disinflation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15716[]' id='answer-id-65076' class='answer   answerof-15716 ' value='65076'   \/><label for='answer-id-65076' id='answer-label-65076' class=' answer'><span>stagflation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15716[]' id='answer-id-65077' class='answer   answerof-15716 ' value='65077'   \/><label for='answer-id-65077' id='answer-label-65077' class=' answer'><span>recession.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15716[]' id='answer-id-65078' class='answer   answerof-15716 ' value='65078'   \/><label for='answer-id-65078' id='answer-label-65078' class=' answer'><span>deflation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-15717'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>The Federal Reserve announces that it plans to buy $3.89 billion in Treasury securities on the open market. All else equal, which of the following is a likely result of this Fed action?<\/div><input type='hidden' name='question_id[]' id='qID_70' value='15717' \/><input type='hidden' id='answerType15717' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15717[]' id='answer-id-65079' class='answer   answerof-15717 ' value='65079'   \/><label for='answer-id-65079' id='answer-label-65079' class=' answer'><span>Interest rates will rise, causing security prices to fall.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15717[]' id='answer-id-65080' class='answer   answerof-15717 ' value='65080'   \/><label for='answer-id-65080' id='answer-label-65080' class=' answer'><span>Money supply will increase, causing interest rates to fall.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15717[]' id='answer-id-65081' class='answer   answerof-15717 ' value='65081'   \/><label for='answer-id-65081' id='answer-label-65081' class=' answer'><span>Stock and bond prices should increase.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15717[]' id='answer-id-65082' class='answer   answerof-15717 ' value='65082'   \/><label for='answer-id-65082' id='answer-label-65082' class=' answer'><span>Both B and C are likely results of this Fed action.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-15718'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Which of the following are fiscal policy tools under the jurisdiction of the U.S. Congress?<\/div><input type='hidden' name='question_id[]' id='qID_71' value='15718' \/><input type='hidden' id='answerType15718' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15718[]' id='answer-id-65083' class='answer   answerof-15718 ' value='65083'   \/><label for='answer-id-65083' id='answer-label-65083' class=' answer'><span>the decision on the amount of cash reserves that a bank must hold<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15718[]' id='answer-id-65084' class='answer   answerof-15718 ' value='65084'   \/><label for='answer-id-65084' id='answer-label-65084' class=' answer'><span>the decision on whether to raise or lower effective tax rates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15718[]' id='answer-id-65085' class='answer   answerof-15718 ' value='65085'   \/><label for='answer-id-65085' id='answer-label-65085' class=' answer'><span>the decision on whether to raise or lower the rate at which banks can borrow money from the Federal Reserve<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15718[]' id='answer-id-65086' class='answer   answerof-15718 ' value='65086'   \/><label for='answer-id-65086' id='answer-label-65086' class=' answer'><span>Both A and B are fiscal policy tools<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-15719'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>Which of the following actions can be expected to result in a decrease in stock and bond prices, all else equal? <br \/>\r<br>I. The Federal Reserve announces a decrease in the discount rate. <br \/>\r<br>II. Congress votes to decrease payments to Social Security recipients. <br \/>\r<br>III. Congress votes to decrease taxes. <br \/>\r<br>IV. The Federal Reserve announces that it will sell some of the Treasury securities it owns on the open market.<\/div><input type='hidden' name='question_id[]' id='qID_72' value='15719' \/><input type='hidden' id='answerType15719' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15719[]' id='answer-id-65087' class='answer   answerof-15719 ' value='65087'   \/><label for='answer-id-65087' id='answer-label-65087' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15719[]' id='answer-id-65088' class='answer   answerof-15719 ' value='65088'   \/><label for='answer-id-65088' id='answer-label-65088' class=' answer'><span>II and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15719[]' id='answer-id-65089' class='answer   answerof-15719 ' value='65089'   \/><label for='answer-id-65089' id='answer-label-65089' class=' answer'><span>I, II, and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15719[]' id='answer-id-65090' class='answer   answerof-15719 ' value='65090'   \/><label for='answer-id-65090' id='answer-label-65090' class=' answer'><span>II and III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-15720'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>When the U.S. dollar appreciates relative to other world currencies, <br \/>\r<br>I. the prices of all domestic stocks and bonds can be expected to increase. <br \/>\r<br>II. the prices of securities offered by manufacturers that import a lot of their parts can be expected to increase. <br \/>\r<br>III. an increase in the purchase of U.S. securities by foreign investors can be expected.<\/div><input type='hidden' name='question_id[]' id='qID_73' value='15720' \/><input type='hidden' id='answerType15720' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15720[]' id='answer-id-65091' class='answer   answerof-15720 ' value='65091'   \/><label for='answer-id-65091' id='answer-label-65091' class=' answer'><span>I, II, and III<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15720[]' id='answer-id-65092' class='answer   answerof-15720 ' value='65092'   \/><label for='answer-id-65092' id='answer-label-65092' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15720[]' id='answer-id-65093' class='answer   answerof-15720 ' value='65093'   \/><label for='answer-id-65093' id='answer-label-65093' class=' answer'><span>II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15720[]' id='answer-id-65094' class='answer   answerof-15720 ' value='65094'   \/><label for='answer-id-65094' id='answer-label-65094' class=' answer'><span>III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-15721'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>The Securities Act of 1933 did what?<\/div><input type='hidden' name='question_id[]' id='qID_74' value='15721' \/><input type='hidden' id='answerType15721' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15721[]' id='answer-id-65095' class='answer   answerof-15721 ' value='65095'   \/><label for='answer-id-65095' id='answer-label-65095' class=' answer'><span>It established the requirement that investment advisers be registered with the SE<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15721[]' id='answer-id-65096' class='answer   answerof-15721 ' value='65096'   \/><label for='answer-id-65096' id='answer-label-65096' class=' answer'><span>It established the SEC as the regulatory agency for the secondary market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15721[]' id='answer-id-65097' class='answer   answerof-15721 ' value='65097'   \/><label for='answer-id-65097' id='answer-label-65097' class=' answer'><span>It established the requirement that new securities be registered.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15721[]' id='answer-id-65098' class='answer   answerof-15721 ' value='65098'   \/><label for='answer-id-65098' id='answer-label-65098' class=' answer'><span>All of the above are correct answers.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-15722'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Ms. Scatty is a registered representative with a well-known family of mutual funds. When selling one of the funds, she forgets to give her buyer a prospectus. <br \/>\r<br>Which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_75' value='15722' \/><input type='hidden' id='answerType15722' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15722[]' id='answer-id-65099' class='answer   answerof-15722 ' value='65099'   \/><label for='answer-id-65099' id='answer-label-65099' class=' answer'><span>Ms. Scatty can be held civilly liable under the Securities Act of 1933.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15722[]' id='answer-id-65100' class='answer   answerof-15722 ' value='65100'   \/><label for='answer-id-65100' id='answer-label-65100' class=' answer'><span>Ms. Scatty can be held criminally liable under the Securities Act of 1933.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15722[]' id='answer-id-65101' class='answer   answerof-15722 ' value='65101'   \/><label for='answer-id-65101' id='answer-label-65101' class=' answer'><span>Since mutual funds are not covered under the Securities Act of 1933, there is no liability in this instance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15722[]' id='answer-id-65102' class='answer   answerof-15722 ' value='65102'   \/><label for='answer-id-65102' id='answer-label-65102' class=' answer'><span>Both A and B are true statements.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-15723'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>Mr. Big of HiGrow Corporation needs more money to support the exceptional growth rate that his firm is enjoying. He meets with BigFee Investment Banker, who agrees to handle the IPO for HiGrow. Subsequently, InTheLoop Brokerage is tapped to be part of the selling group that will handle the sale of the new stock to the public. In this example, the issuer is:<\/div><input type='hidden' name='question_id[]' id='qID_76' value='15723' \/><input type='hidden' id='answerType15723' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15723[]' id='answer-id-65103' class='answer   answerof-15723 ' value='65103'   \/><label for='answer-id-65103' id='answer-label-65103' class=' answer'><span>Mr. Big<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15723[]' id='answer-id-65104' class='answer   answerof-15723 ' value='65104'   \/><label for='answer-id-65104' id='answer-label-65104' class=' answer'><span>HiGrow Corporation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15723[]' id='answer-id-65105' class='answer   answerof-15723 ' value='65105'   \/><label for='answer-id-65105' id='answer-label-65105' class=' answer'><span>BigFee Investment Banker<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15723[]' id='answer-id-65106' class='answer   answerof-15723 ' value='65106'   \/><label for='answer-id-65106' id='answer-label-65106' class=' answer'><span>InTheLoop Brokerage<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-15724'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>Mr. Big of HiGrow Corporation needs more money to support the exceptional growth rate that his firm is enjoying. He meets with BigFee Investment Banker, who agrees to handle the IPO for HiGrow. Subsequently, InTheLoop Brokerage is tapped to be part of the selling group that will handle the sale of the new stock to the public. In this example, the underwriter is:<\/div><input type='hidden' name='question_id[]' id='qID_77' value='15724' \/><input type='hidden' id='answerType15724' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15724[]' id='answer-id-65107' class='answer   answerof-15724 ' value='65107'   \/><label for='answer-id-65107' id='answer-label-65107' class=' answer'><span>Mr. Big<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15724[]' id='answer-id-65108' class='answer   answerof-15724 ' value='65108'   \/><label for='answer-id-65108' id='answer-label-65108' class=' answer'><span>HiGrow Corporation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15724[]' id='answer-id-65109' class='answer   answerof-15724 ' value='65109'   \/><label for='answer-id-65109' id='answer-label-65109' class=' answer'><span>BigFee Investment Banker<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15724[]' id='answer-id-65110' class='answer   answerof-15724 ' value='65110'   \/><label for='answer-id-65110' id='answer-label-65110' class=' answer'><span>InTheLoop Brokerage<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-15725'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>Any person who willfully acts in violation of the Securities Act of 1933, or any SEC rule, is subject to a penalty of:<\/div><input type='hidden' name='question_id[]' id='qID_78' value='15725' \/><input type='hidden' id='answerType15725' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15725[]' id='answer-id-65111' class='answer   answerof-15725 ' value='65111'   \/><label for='answer-id-65111' id='answer-label-65111' class=' answer'><span>10 years in prison or a $10,000 fine, or both.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15725[]' id='answer-id-65112' class='answer   answerof-15725 ' value='65112'   \/><label for='answer-id-65112' id='answer-label-65112' class=' answer'><span>5 years in prison or a $10,000 fine, or both.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15725[]' id='answer-id-65113' class='answer   answerof-15725 ' value='65113'   \/><label for='answer-id-65113' id='answer-label-65113' class=' answer'><span>10 years in prison or a $25,000 fine, or both.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15725[]' id='answer-id-65114' class='answer   answerof-15725 ' value='65114'   \/><label for='answer-id-65114' id='answer-label-65114' class=' answer'><span>5 years in prison or a $5,000 fine, or both.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-15726'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>Mr. Big of HiGrow Corporation needs more money to support the exceptional growth rate that his firm is enjoying. He meets with BigFee Investment Banker, who agrees to handle the IPO for HiGrow. As part of the process, BigFee\u2019s staff works with HiGrow\u2019s accountants to prepare the registration statement that is filed with the SEC. After the issue has been sold to the public, Mr. Sharp, a CPA who has invested in the stock of HiGrow, discovers that there are some accounting irregularities in the financial statements provided in HiGrow\u2019s prospectus. <br \/>\r<br>Who can be sued for the misleading statements? <br \/>\r<br>I. Mr. Big <br \/>\r<br>II. Big Fee Investment Banker <br \/>\r<br>III. HiGrow\u2019s accountants <br \/>\r<br>IV. HiGrow\u2019s attorneys<\/div><input type='hidden' name='question_id[]' id='qID_79' value='15726' \/><input type='hidden' id='answerType15726' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15726[]' id='answer-id-65115' class='answer   answerof-15726 ' value='65115'   \/><label for='answer-id-65115' id='answer-label-65115' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15726[]' id='answer-id-65116' class='answer   answerof-15726 ' value='65116'   \/><label for='answer-id-65116' id='answer-label-65116' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15726[]' id='answer-id-65117' class='answer   answerof-15726 ' value='65117'   \/><label for='answer-id-65117' id='answer-label-65117' class=' answer'><span>I, III, and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15726[]' id='answer-id-65118' class='answer   answerof-15726 ' value='65118'   \/><label for='answer-id-65118' id='answer-label-65118' class=' answer'><span>I, II, III, and IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-15727'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>Which of the following securities is not exempt from registration requirements?<\/div><input type='hidden' name='question_id[]' id='qID_80' value='15727' \/><input type='hidden' id='answerType15727' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15727[]' id='answer-id-65119' class='answer   answerof-15727 ' value='65119'   \/><label for='answer-id-65119' id='answer-label-65119' class=' answer'><span>private-placement variable universal life insurance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15727[]' id='answer-id-65120' class='answer   answerof-15727 ' value='65120'   \/><label for='answer-id-65120' id='answer-label-65120' class=' answer'><span>a revenue bond issued by the state of Florida to raise money to build an airport<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15727[]' id='answer-id-65121' class='answer   answerof-15727 ' value='65121'   \/><label for='answer-id-65121' id='answer-label-65121' class=' answer'><span>a bond issued by the<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15727[]' id='answer-id-65122' class='answer   answerof-15727 ' value='65122'   \/><label for='answer-id-65122' id='answer-label-65122' class=' answer'><span>post office<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15727[]' id='answer-id-65123' class='answer   answerof-15727 ' value='65123'   \/><label for='answer-id-65123' id='answer-label-65123' class=' answer'><span>a new issue of stock issued by a corporation that already has shares of its stock trading on the NYSE<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-81' style=';'><div id='questionWrap-81'  class='   watupro-question-id-15728'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>81. <\/span>Private placements are exempt from the registration requirements of the Securities Act of 1933 under the rules contained in:<\/div><input type='hidden' name='question_id[]' id='qID_81' value='15728' \/><input type='hidden' id='answerType15728' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15728[]' id='answer-id-65124' class='answer   answerof-15728 ' value='65124'   \/><label for='answer-id-65124' id='answer-label-65124' class=' answer'><span>Regulation A.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15728[]' id='answer-id-65125' class='answer   answerof-15728 ' value='65125'   \/><label for='answer-id-65125' id='answer-label-65125' class=' answer'><span>Regulation D.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15728[]' id='answer-id-65126' class='answer   answerof-15728 ' value='65126'   \/><label for='answer-id-65126' id='answer-label-65126' class=' answer'><span>Regulation E.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15728[]' id='answer-id-65127' class='answer   answerof-15728 ' value='65127'   \/><label for='answer-id-65127' id='answer-label-65127' class=' answer'><span>the Securities Exchange Act of 1934.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-82' style=';'><div id='questionWrap-82'  class='   watupro-question-id-15729'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>82. <\/span>Regulation D: <br \/>\r<br>I. enables smaller firms to raise capital more quickly and more cheaply. <br \/>\r<br>II. exempts the issuing firm from all disclosure requirements as long as the issue is being sold to no more than five investors. <br \/>\r<br>III. has restrictions regarding the resale of the securities being sold.<\/div><input type='hidden' name='question_id[]' id='qID_82' value='15729' \/><input type='hidden' id='answerType15729' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15729[]' id='answer-id-65128' class='answer   answerof-15729 ' value='65128'   \/><label for='answer-id-65128' id='answer-label-65128' class=' answer'><span>I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15729[]' id='answer-id-65129' class='answer   answerof-15729 ' value='65129'   \/><label for='answer-id-65129' id='answer-label-65129' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15729[]' id='answer-id-65130' class='answer   answerof-15729 ' value='65130'   \/><label for='answer-id-65130' id='answer-label-65130' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15729[]' id='answer-id-65131' class='answer   answerof-15729 ' value='65131'   \/><label for='answer-id-65131' id='answer-label-65131' class=' answer'><span>I, II, and III<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-83' style=';'><div id='questionWrap-83'  class='   watupro-question-id-15730'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>83. <\/span>Which of the following would qualify as accredited investors for a Regulation D offering? <br \/>\r<br>I. your 45-year-old, spinster aunt who has earned in excess of $200,000 annually over the last ten years as a pediatric surgeon <br \/>\r<br>II. your Uncle Miserly, who is reputed to have a net worth of $1.2 million <br \/>\r<br>III. Tiny Brokers, a small broker-dealer with a single office in the state of Kentucky IV. a trust containing assets that are valued between $3.5 and $4 million<\/div><input type='hidden' name='question_id[]' id='qID_83' value='15730' \/><input type='hidden' id='answerType15730' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15730[]' id='answer-id-65132' class='answer   answerof-15730 ' value='65132'   \/><label for='answer-id-65132' id='answer-label-65132' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15730[]' id='answer-id-65133' class='answer   answerof-15730 ' value='65133'   \/><label for='answer-id-65133' id='answer-label-65133' class=' answer'><span>III and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15730[]' id='answer-id-65134' class='answer   answerof-15730 ' value='65134'   \/><label for='answer-id-65134' id='answer-label-65134' class=' answer'><span>I, II, and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15730[]' id='answer-id-65135' class='answer   answerof-15730 ' value='65135'   \/><label for='answer-id-65135' id='answer-label-65135' class=' answer'><span>II and IV only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-84' style=';'><div id='questionWrap-84'  class='   watupro-question-id-15731'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>84. <\/span>Private placements may be sold to whom?<\/div><input type='hidden' name='question_id[]' id='qID_84' value='15731' \/><input type='hidden' id='answerType15731' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15731[]' id='answer-id-65136' class='answer   answerof-15731 ' value='65136'   \/><label for='answer-id-65136' id='answer-label-65136' class=' answer'><span>only to institutional investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15731[]' id='answer-id-65137' class='answer   answerof-15731 ' value='65137'   \/><label for='answer-id-65137' id='answer-label-65137' class=' answer'><span>only to accredited investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15731[]' id='answer-id-65138' class='answer   answerof-15731 ' value='65138'   \/><label for='answer-id-65138' id='answer-label-65138' class=' answer'><span>to as many as 35 non-accredited investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15731[]' id='answer-id-65139' class='answer   answerof-15731 ' value='65139'   \/><label for='answer-id-65139' id='answer-label-65139' class=' answer'><span>to only 35 investors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-85' style=';'><div id='questionWrap-85'  class='   watupro-question-id-15732'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>85. <\/span>Which of the following pieces of information may not be contained in a tombstone advertisement under SEC rules?<\/div><input type='hidden' name='question_id[]' id='qID_85' value='15732' \/><input type='hidden' id='answerType15732' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15732[]' id='answer-id-65140' class='answer   answerof-15732 ' value='65140'   \/><label for='answer-id-65140' id='answer-label-65140' class=' answer'><span>the name of the issuer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15732[]' id='answer-id-65141' class='answer   answerof-15732 ' value='65141'   \/><label for='answer-id-65141' id='answer-label-65141' class=' answer'><span>the name and address of a place where a prospectus can be obtained<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15732[]' id='answer-id-65142' class='answer   answerof-15732 ' value='65142'   \/><label for='answer-id-65142' id='answer-label-65142' class=' answer'><span>the price of the offering<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15732[]' id='answer-id-65143' class='answer   answerof-15732 ' value='65143'   \/><label for='answer-id-65143' id='answer-label-65143' class=' answer'><span>the type of business in which the issuing firm is engaged<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-86' style=';'><div id='questionWrap-86'  class='   watupro-question-id-15733'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>86. <\/span>The Securities Exchange Act of 1934: <br \/>\r<br>I. regulates the market for new issues. <br \/>\r<br>II. delineates the registration requirements for investment advisers. <br \/>\r<br>III. regulates secondary market activities. <br \/>\r<br>IV. requires that officers and some other employees of member firms submit their fingerprints to the U.S. attorney general\u2019s office.<\/div><input type='hidden' name='question_id[]' id='qID_86' value='15733' \/><input type='hidden' id='answerType15733' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15733[]' id='answer-id-65144' class='answer   answerof-15733 ' value='65144'   \/><label for='answer-id-65144' id='answer-label-65144' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15733[]' id='answer-id-65145' class='answer   answerof-15733 ' value='65145'   \/><label for='answer-id-65145' id='answer-label-65145' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15733[]' id='answer-id-65146' class='answer   answerof-15733 ' value='65146'   \/><label for='answer-id-65146' id='answer-label-65146' class=' answer'><span>III and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15733[]' id='answer-id-65147' class='answer   answerof-15733 ' value='65147'   \/><label for='answer-id-65147' id='answer-label-65147' class=' answer'><span>I, II, III, and IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-87' style=';'><div id='questionWrap-87'  class='   watupro-question-id-15734'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>87. <\/span>Which of the following persons is not subject to the fingerprinting requirements of the Securities Exchange Act of 1934? <br \/>\r<br>I. a registered transfer agent of a securities exchange <br \/>\r<br>II. a firm that engages only in the sale of mutual fund shares <br \/>\r<br>III. a receptionist at a brokerage firm who answers phones and directs calls to the agents employed by the firm <br \/>\r<br>IV. a market maker in the over-the-counter market<\/div><input type='hidden' name='question_id[]' id='qID_87' value='15734' \/><input type='hidden' id='answerType15734' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15734[]' id='answer-id-65148' class='answer   answerof-15734 ' value='65148'   \/><label for='answer-id-65148' id='answer-label-65148' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15734[]' id='answer-id-65149' class='answer   answerof-15734 ' value='65149'   \/><label for='answer-id-65149' id='answer-label-65149' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15734[]' id='answer-id-65150' class='answer   answerof-15734 ' value='65150'   \/><label for='answer-id-65150' id='answer-label-65150' class=' answer'><span>II, III, and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15734[]' id='answer-id-65151' class='answer   answerof-15734 ' value='65151'   \/><label for='answer-id-65151' id='answer-label-65151' class=' answer'><span>III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-88' style=';'><div id='questionWrap-88'  class='   watupro-question-id-15735'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>88. <\/span>Which of the following established the requirement that insiders report their trading activities to the SEC?<\/div><input type='hidden' name='question_id[]' id='qID_88' value='15735' \/><input type='hidden' id='answerType15735' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15735[]' id='answer-id-65152' class='answer   answerof-15735 ' value='65152'   \/><label for='answer-id-65152' id='answer-label-65152' class=' answer'><span>the Securities Act of 1933<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15735[]' id='answer-id-65153' class='answer   answerof-15735 ' value='65153'   \/><label for='answer-id-65153' id='answer-label-65153' class=' answer'><span>Regulation D<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15735[]' id='answer-id-65154' class='answer   answerof-15735 ' value='65154'   \/><label for='answer-id-65154' id='answer-label-65154' class=' answer'><span>Regulation I-N<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15735[]' id='answer-id-65155' class='answer   answerof-15735 ' value='65155'   \/><label for='answer-id-65155' id='answer-label-65155' class=' answer'><span>the Securities Exchange Act of 1934<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-89' style=';'><div id='questionWrap-89'  class='   watupro-question-id-15736'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>89. <\/span>The primary difference between dealers and brokers is that:<\/div><input type='hidden' name='question_id[]' id='qID_89' value='15736' \/><input type='hidden' id='answerType15736' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15736[]' id='answer-id-65156' class='answer   answerof-15736 ' value='65156'   \/><label for='answer-id-65156' id='answer-label-65156' class=' answer'><span>dealers operate exclusively in the primary market whereas brokers operate only in the secondary market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15736[]' id='answer-id-65157' class='answer   answerof-15736 ' value='65157'   \/><label for='answer-id-65157' id='answer-label-65157' class=' answer'><span>dealers operate only in the bond market, while brokers conduct trades in stocks, bonds and options.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15736[]' id='answer-id-65158' class='answer   answerof-15736 ' value='65158'   \/><label for='answer-id-65158' id='answer-label-65158' class=' answer'><span>dealers are market makers, who buy and sell out of their own inventory of securities, while brokers are matchmakers, who match buyers with sellers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15736[]' id='answer-id-65159' class='answer   answerof-15736 ' value='65159'   \/><label for='answer-id-65159' id='answer-label-65159' class=' answer'><span>Both Choices B and C describe differences between dealers and brokers.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-90' style=';'><div id='questionWrap-90'  class='   watupro-question-id-15737'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>90. <\/span>Mr. Walt Street has observed that a Treasury note maturing in November of 2019 and paying a 3.375% coupon has a bid price of 105:25 and an ask price of 105:26. <br \/>\r<br>In this instance, what is the dealers\u2019 spread for every $1,000 of par value?<\/div><input type='hidden' name='question_id[]' id='qID_90' value='15737' \/><input type='hidden' id='answerType15737' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15737[]' id='answer-id-65160' class='answer   answerof-15737 ' value='65160'   \/><label for='answer-id-65160' id='answer-label-65160' class=' answer'><span>$0.31250<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15737[]' id='answer-id-65161' class='answer   answerof-15737 ' value='65161'   \/><label for='answer-id-65161' id='answer-label-65161' class=' answer'><span>$0.10000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15737[]' id='answer-id-65162' class='answer   answerof-15737 ' value='65162'   \/><label for='answer-id-65162' id='answer-label-65162' class=' answer'><span>$0.03125<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-15737[]' id='answer-id-65163' class='answer   answerof-15737 ' value='65163'   \/><label for='answer-id-65163' id='answer-label-65163' class=' answer'><span>$0.03375<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-91'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons641\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"641\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-03 01:48:56\" \/>\n\t<input type=\"hidden\" 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