题目内容

Compared to the underlying MBS, a collateralized mortgage obligation (CMO):

A. Has lower duration.
B. May have more or less prepayment risk.
C. Allows an investor to select an exact maturity.

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If the government regulates a natural monopoly and enforces an average cost pricing, what are the effects on output quantity and price compared to an unregulated natural monopoly?

A. Both are lower under average cost pricing.
Both are higher under average cost pricing.
C. One is higher and one is lower under average cost pricing.

Which portion of an investment policy statement is most likely to state any restriction on portfolio leverage?

A. Procedures.
B. Investment guidelines.
C. Duties and responsibilities.

Zhou Lun, CFA, is an equity analyst who recently prepared a full report on BMM Corporation. The report included financial projections developed by Zhou Lun and information gathered from a third-party

A. No.
B. Yes,because the report relied on third-party research.
C. Yes,because the report was not properly disseminated.

Business risk is best described as resulting from the combined effects of a firms:

A. Financial risk and sales risk.
B. Sales risk and operating risk.
C. Operating risk and financial risk.

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