题目内容

One advantage of exchange traded funds relative to open-end mutual funds is:

A. They trade throughout the day.
B. They offer greater diversification.
C. They have smaller bid-ask spreads.

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The real estate valuation approach that uses a perpetuity discount type model is the:

A. Cost approach.
B. Income approach.
C. Sales comparison approach.

The crowding-out effect is most likely associated with:

A. Falling real interest rates.
B. Government budget deficits.
C. Government budget surpluses.

Joyce La Valle, CFA is a portfolio manager at a global bank. La Valle has been told she should use a specific vendor for equity investment research that has been approved by the banks headquarters. Be

A. Use the local research vendor.
B. Use the bank-approved research vendor.
C. Use both the local and the bank-approved research vendors.

Over a given period, the price of a commodity falls by 5.0% and the quantity demanded rises by 7.5%. The price elasticity of demand for the commodity is best described as:

A. elastic
B. inelastic
C. Perfectly elastic

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