1. Among the compounding periods provided below, _____________ will yield the highest present value of given a stated future value and annual percentage rate.

daily

annual

semi-annual

continuous

monthly

2. All common stockholders of a publicly-held corporation have all the following rights except _______________.

determining the amount of the dividend to be paid per share

receiving a distribution of company profits

having first chance to purchase any new equity shares that may be offered

electing the board of directors

voting either for or against a proposed merger or acquisition

3. A perpetuity is defined as _____________________.

payments of equal amounts that are paid irregularly but indefinitely

unending equal payments paid at equal time intervals

varying amounts that are paid at even intervals forever

unending equal payments paid at either equal or unequal time intervals

a limited number of equal payments paid in even time increments