投资学题库Chap001 (3)

28. Theoretically, takeovers should result in

A. improved management.

B. increased stock price.

C. increased benefits to existing management of taken-over firm.

D. improved management and increased stock price.

E. All of the options

29. During the period between 2000 and 2002, a large number of scandals were uncovered. Most

of these scandals were related to

I) manipulation of financial data to misrepresent the actual condition of the firm. II) misleading and overly optimistic research reports produced by analysts. III) allocating IPOs to executives as a quid pro quo for personal favors. IV) greenmail.

A. II, III, and IV

B. I, II, and IV

C. II and IV

D. I, III, and IV

E. I, II, and III

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30. The Sarbanes-Oxley Act

A. requires corporations to have more independent directors.

B. requires the firm's CFO to personally vouch for the firm's accounting statements.

C. prohibits auditing firms from providing other services to clients.

D. requires corporations to have more independent directors and requires the firm's CFO to personally vouch for the firm's accounting statements.

E. All of the options

31. Asset allocation refers to

A. choosing which securities to hold based on their valuation.

B. investing only in \

C. the allocation of assets into broad asset classes.

D. bottom-up analysis.

32. Security selection refers to

A. choosing which securities to hold based on their valuation.

B. investing only in \

C. the allocation of assets into broad asset classes.

D. top-down analysis.

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33. Which of the following portfolio construction methods starts with security analysis?

A. Top-down

B. Bottom-up

C. Middle-out

D. Buy and hold

E. Asset allocation

34. Which of the following portfolio construction methods starts with asset allocation?

A. Top-down

B. Bottom-up

C. Middle-out

D. Buy and hold

E. Asset allocation

35. _______ are examples of financial intermediaries.

A. Commercial banks

B. Insurance companies

C. Investment companies

D. Credit unions

E. All of the options

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36. Financial intermediaries exist because small investors cannot efficiently

A. diversify their portfolios.

B. assess credit risk of borrowers.

C. advertise for needed investments.

D. diversify their portfolios and assess credit risk of borrowers.

E. All of the options

37. ________ specialize in helping companies raise capital by selling securities.

A. Commercial bankers

B. Investment bankers

C. Investment issuers

D. Credit raters

38. Commercial banks differ from other businesses in that both their assets and their liabilities are

mostly

A. illiquid.

B. financial.

C. real.

D. owned by the government.

E. regulated.

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39. In 2012, ____________ was(were) the most significant financial asset(s) of U.S. commercial

banks in terms of total value.

A. loans and leases

B. cash

C. real estate

D. deposits

E. investment securities

40. In 2012, ____________ was(were) the most significant liability(ies) of U.S. commercial banks

in terms of total value.

A. loans and leases

B. cash

C. real estate

D. deposits

E. investment securities

41. In 2012, ____________ was(were) the most significant real asset(s) of U.S. nonfinancial

businesses in terms of total value.

A. equipment and software

B. inventory

C. real estate

D. trade credit

E. marketable securities

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McGraw-Hill Education.

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