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FIN 320 Quiz 2 Question 1 3 out of 3 points Correct The difference between the price at which a dealer is willing to buy and the price at which a dealer is willing to sell is called the _________. Question 2 3 out of 3 points Correct What happened to the effective spread on trades when the SEC allowed the minimum tick size to move from one-eighth of a dollar to one-sixteenth of a dollar in 1997 and from one-sixteenth of a dollar to one cent in 2001? Question 3 3 out of 3 points Correct The fully automated trade-execution system installed on the NYSE is called _____. Answer Question 4 3 out of 3 points Correct The _________ price is the price at which a dealer is willing to purchase a security. Question 5 3 out of 3 points Correct The bulk of most initial public offerings (IPOs) of equity securities goes to ___________. Question 6 3 out of 3 points Correct Transactions that do not involve the original issue of securities take place in _________. Question 7 3 out of 3 points Correct Which one of the following types of markets requires the greatest level of trading activity to be cost-effective? Question 8 3 out of 3 points Correct The __________ was established to protect investors from losses if their brokerage firms fail. Question 9 3 out of 3 points Correct An order to buy or sell a security at the current price is a ______________. Question 10 3 out of 3 points Correct The bid-ask spread exists because of _______________. Question 11 3 out of 3 points Correct The term latency refers to _____. Question 12 3 out of 3 points Correct In a __________ underwriting arrangement, the underwriter assumes the full risk that shares may not be sold to the public at the stipulated offering price. Question 13 3 out of 3 points Correct The process of polling potential investors regarding their interest in a forthcoming initial public offering (IPO) is called ________. Question 14 3 out of 3 points Correct The ____ requires full disclosure of relevant information relating to the issue of new securities. Question 15 3 out of 3 points Correct Initial public offerings (IPOs) are usually ___________ relative to the levels at which their prices stabilize after they begin trading in the secondary market. Question 16 3 out of 3 points Correct The difference between balanced funds and asset allocation funds is that _____. Question 17 3 out of 3 points Correct The top Morningstar mutual fund performance rating is ________. Question 18 3 out of 3 points Correct Under SEC rules, the managers of certain funds are allowed to deduct charges for advertising, brokerage commissions, and other sales expenses directly from the fund assets rather than billing investors. These fees are known as ____________. Question 19 3 out of 3 points Correct The greatest percentage of mutual fund assets are invested in ________. Question 20 3 out of 3 points Correct __________ fund is defined as one in which the fund charges a sales commission to either buy into or exit from the fund. Question 21 3 out of 3 points Correct ______________________ are often called mutual funds. Question 22 3 out of 3 points Correct A fund that invests in securities worldwide, including the United States, is called ______. Question 23 3 out of 3 points Correct A __________ is a private investment pool open only to wealthy or institutional investors that is exempt from SEC regulation and can therefore pursue more speculative policies than mutual funds. Question 24 3 out of 3 points Correct The NAV of which funds is fixed at $1 per share? Question 25 3 out of 3 points Correct __________ funds stand rea

FIN 320 Quiz 2

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