Which of the following is most likely a sign of a good corporate governance structure？
A. The chief executive position is separate from the chair position on the companys board.
B. Independent board members comprise a minority proportion of the companys board.
C. Independent board members are allowed to meet shareholders only in the presence of the entire board.
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A BBB rated corporation wishes to issue debt to finance its operations at the lowest cost possible. If it decides to sell a pool of receivables into a special purpose vehicle （SPV）, its primary motiva
A. Receive a guaranty from the SPV to improve the corporations credit rating.
B. Allow the corporation to retain a first lien on the assets of the SPV.
C. Segregate the assets into a bankruptcy-remote entity for bondholders.
Which statement best describes option price sensitivities？ The value of a:
A. Call option increases as interest rates rise.
B. Put option decreases as interest rates decline.
C. Put option increases as volatility decreases.
In general, which of the following institutions will most likely have a high need for liquidity and a short investment time horizon？
A. Banks
B. Defined benefit pension plans
C. Endowments
A company has announced that it is going to distribute a group of long-lived assets to its owners in a spin-off. The most appropriate way to account for the assets until the distribution occurs is to
A. Held for use until disposal with no deprecation taken.
B. Held for use until disposal with depreciation continuing to be taken.
C. Held for sale with no depreciation taken.
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