1. Industry or "sector" experts who by their own intelligence and knowledge and using public sources of information deduce and ascertain a company's confidential information and then trade on that information can be said to be acting:

Legally under federal securities laws in the United States.

Moral under Ethical Egoism.

Illegally under federal securities laws in the United States since there is not a level-playing-field.

A and B.

2. A rental property is expected to generate an average cashflow per month of $14,500 over its 30-year expected life. Based on the expected cashflow, and assuming a 9% required return, what is the value of the property?

$1,698,487

$1,893,892

$1,815,603

$1,945,365

none of the above