题目内容

Preferred stock is like long-term debt in that ___________.

A. it gives the holder voting power regarding the firm's management
B. the preferred dividend is a tax-deductible expense for the firm
C. in the event of bankruptcy preferred stock has equal status with debt
D. it promises to pay to its holder a fixed stream of income each year

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You find that the bid and ask prices for a stock are $10.25 and $10.30 respectively. If you purchase or sell the stock you must pay a flat commission of $25. If you buy 100 shares of the stock and immediately sell them, what is your total implied and actual transaction cost in dollars?

A. $50
B. $25
C. $30
D. $55

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The bid-ask spread exists because of _______________.

A. market inefficiencies
B. discontinuities in the markets
C. the need for dealers to cover expenses and make a profit
D. lack of trading in thin markets

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The _________ price is the price at which a dealer is willing to purchase a security.

A. bid
B. ask
C. clearing
D. settlement

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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.

A. commingled pool
B. unit trust
C. hedge fund
D. money market fund

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Preferred stock is like long-term debt in that ___________.

A. it gives the holder voting power regarding the firm's management B. the preferred dividend is a tax-deductible expense for the firm C. in the event of bankruptcy preferred stock has equal status with debt D. it promises to pay to its holder a fixed stream of income each year

You find that the bid and ask prices for a stock are $10.25 and $10.30 respectively. If you purchase or sell the stock you must pay a flat commission of $25. If you buy 100 shares of the stock and immediately sell them, what is your total implied and actual transaction cost in dollars?

The bid-ask spread exists because of _______________.

The _________ price is the price at which a dealer is willing to purchase a security.

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.

A. it gives the holder voting power regarding the firm's management
B. the preferred dividend is a tax-deductible expense for the firm
C. in the event of bankruptcy preferred stock has equal status with debt
D. it promises to pay to its holder a fixed stream of income each year