The Glass-Steagall Act prohibited
A. retail brokerage firms from having investment banking operations.
B. commercial banks from combining investment banking and commercial banking functions.
C. investment banks from selling both debt and equity securities.
D. insurance companies from selling investment products.
The Glass-Steagall Act prohibited
| A. | retail brokerage firms from having investment banking operations. | |
| B. | commercial banks from combining investment banking and commercial banking functions. | |
| C. | investment banks from selling both debt and equity securities. | |
| D. | insurance companies from selling investment products. |
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QUESTION 2
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| a. | commercial bank | |
| b. | investment company | |
| c. | finance company | |
| d. | thrift institution |
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QUESTION 3
Finance companies obtain a significant amount of their funds by
| a. | pooling funds | |
| b. | issuing their own debt securities | |
| c. | issuing their own equity securities | |
| d. | accepting both demand and time deposits |
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QUESTION 4
When an investor purchases shares in a no-load common stock mutual fund, she is using a(n)
| a. | primary intermediary | |
| b. | broker | |
| c. | financial intermediary | |
| d. | over-the-counter market |
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QUESTION 5
In an efficient capital market, corporate diversification is ____.
| a. | of great benefit | |
| b. | inexpensive | |
| c. | unnecessary | |
| d. | of benefit to corporate managers |
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QUESTION 6
Changes in the tax code that slow down depreciation, ____ the present value of investment cash flows and, therefore, make the investment ____ desirable.
| a. | increase, more | |
| b. | increase, less | |
| c. | decrease, less | |
| d. | decrease, more |
10 points
QUESTION 7
Christy purchased 100 shares of Good Idea stock for $48 last year. Yesterday she sold the stock for $45. If she received $4 in dividends during the time she held the security, what is her holding period return?
| a. | -6.30% | |
| b. | 14.60% | |
| c. | 8.30% | |
| d. | 2.08% |
10 points
QUESTION 8
Lear purchased 100 shares of Quitcha Twitchin Anti-inch Cream stock at $30 per share last year and sold them eleven months later for $24 per share. The shares split 2 for 1 shortly after Lear purchased the stock. If the stock paid $0.25 per share in dividends last year, what is Lear's holding period return?
| a. | 6.17% | |
| b. | 61.67% | |
| c. | 21.67% | |
| d. | -19.17% |
10 points
QUESTION 9
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| a. | loan sharks | |
| b. | commercial banks | |
| c. | investment companies | |
| d. | thrift institutions |
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QUESTION 10
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| a. | Floor Brokers | |
| b. | SEC Agents | |
| c. | Exchange Runners | |
| d. | Designated Market Makers |
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