Which of the following statements concerning market structure and HerfindahI-Hirschman Index (HHI) is most accurate?
A. HHI is a useful measure of potential barriers to entry.
B. Low control over prices is characteristic of oligopolies.
C. An HHI value of 60 indicates that a market is highly competitive.
查看答案
Which of these definitions of duration is most relevant to a bond investor? A bonds duration is its:
A. half-life.
B. Price sensitivity to yield changes.
C. First derivative of value with respect to its yield.
An investor sells a bond at the quoted price of $98.00. In addition he receives accrued interest of $4.40. The clean price of the bond is:
A. Par value plus accrued interest
B. Accrued interest plus agreed upon bond price
C. Agreed upon bond price excluding accrued interest.
Which of the following is least likely a reason for discounting the value of stock in a closely held company?
A. Illiquidity
B. Marketability
Controlling interest
Which of the following types of institutions is most likely to have a long investment time horizon and a higher level of risk tolerance?
A bank
B. An endowment
C. An insurance company