Which of the following can be described as involving indirect finance?____________
A bank buys a U.treasury bill from one of its depositors
B. A corporation buys commercial paper issued by another corporation
C. A pension fund manager buys commercial paper in the primary market
D. Both A and C
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The purpose of diversification is to ________________.
A. raise the volatility of a portfolio’s return
B. reduce the volatility of a portfolio’s return
C. reduce the average return on a portfolio
D. raise the average return on a portfolio
An investor who puts all the funds into one asset _____________her portfolio’s ____________.
A. increases; diversification
B. increases; average return
C. decreases; diversification
D. decreases; average return
Successful financial intermediaries have higher earnings from their investments because they are better equipped than individuals to screen out good from bad risks, thereby reducing losses due to ______________.
A. moral hazard
B. adverse selection
C. bad luck
D. financial panic
Financial institutions________________.
A. exist because there are substantial information and transaction costs in the economy.
B. help reduce the exposure of investors to risk
C. are involved in the process of indirect finance
D. do all of the above
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