1. ________ were designed to concentrate the credit risk of a bundle of loans on one class of investor, leaving the other investors in the pool relatively protected from that risk.

Stocks
Bonds
Derivatives
Collateralized debt obligations
TIPS.

2. If a Treasury note has a bid price of $995, the quoted bid price in the Wall Street Journal would be

99:50.
99:16.
99:80.
99:24.
99:32.

3. A 5.5% 20-year municipal bond is currently priced to yield 7.2%. For a taxpayer in the 33% marginal tax bracket, this bond would offer an equivalent taxable yield of:

8.20%.
10.75%.
11.40%.
4.82%.
none of the above.

4. The preliminary prospectus is referred to as a ____________.

red herring
indenture
green mail
tombstone
headstone

5. In 2005, the price of a seat on the NYSE reached a high of

$1,000,000
$4,000,000
$1,750,000
$2,225,000
$3,000,000

6. In 2009 the proportion of mutual funds (based on total assets) specializing in money market securities was

21.7%
28.0%
54.1%
73.4%
39.9%

7. Which of the following is not an advantage of mutual funds?

They offer a variety of investment styles.
They offer small investors the benefits of diversification.
They treat income as "passed through" to the investor for tax purposes.
They offer a variety of investment styles, offer small investors the benefits of diversification, and treat income as "passed through" to the investor for tax purposes and all are advantages of mutual funds.
They offer a variety of investment styles, offer small investors the benefits of diversification, and treat income as "passed through" to the investor for tax purposes and all are advantages of mutual fund but non of these are advantages of mutual funds.

8. Multiple Mutual Funds had year-end assets of $457,000,000 and liabilities of $17,000,000. There were 24,300,000 shares in the fund at year-end. What was Multiple Mutual's Net Asset Value?

$18.11
$18.81
$69.96
$7.00