ECO 316 Week 2 Chapter 12 What Financial Institutions Do

 This pack of ECO 316 Week 2 Chapter 12 What Financial Institutions Do shows the solutions to the following problems:


 12.1 Multiple Choice Questions

 1) Which of the following is NOT one of the three largest financial institutions in the world?

 2) Which of the following is a securities market institution?

 3) Which of the following is an investment institution?

 4) Which of the following is a contractual saving institution?

 5) Which of the following is a depository institution?

 6) Securities market institutions

 7) Which of the following had the largest percentage of total assets of financial intermediaries in the United States?

 8) Which of the following increased its share of the percentage of total assets of financial intermediaries by the most between 1960 and 2006?

 9) Which of the following decreased its share of the percentage of total assets of financial intermediaries between 1960 and 2006?

 10) Why are securities market institutions not considered to be financial intermediaries?

 11) Investment banks

 12) Underwriting involves

 13) In investment banking the "spread" is the difference between

 14) If an investment bank underwrites an issue on an "all-or-none" basis,

 15) If an investment bank underwrites an issue on a "best efforts" basis,

 16) A syndicate is

 17) Which of the following is not a leading underwriting firm?

 18) The most important service provided by underwriters is

 19) Why was the Securities and Exchange Commission established?

 20) Why did the risks associated with underwriting bond issues rise during the 1980s?

 21) SEC Rule 415

 22) SEC Rule 415

 23) All of the following statements about junk bonds are true EXCEPT

 24) Merchant banking refers to

 25) Deleveraging

 26) A "tombstone" is a

 27) Unlike brokers, dealers

 28) Securities dealers make most of their income from

 29) The largest firms in securities markets

 30) By 2006, the primary growth area for investment banking was

 31) Many issuers of stocks and bonds use underwriters for all of the following reasons EXCEPT

 32) Buying and selling securities on the basis of insider information is against the law

 33) What was the "big bang"?

 34) All of the following are part of Euronext (an integrated European stock exchange) EXCEPT

 35) Which of the following is NOT true of exchanges?

 36) Which of the following is true of the York Stock Exchange?

 37) A specialist is

 38) In an over-the-counter market trading takes place

 39) A firm with both auction market and over-the-counter capabilities was formed late in 1998 when

 40) What is the most liquid market in the world?

 41) The relative illiquidity of corporate bonds is reflected in their having

 42) Why did seats on the major exchanges decline in value in the late 1990s?

 43) Electronic communications networks (ECNs) are

 44) Many analysts think Electronic communications networks (ECNs) will become important executors of exchange-traded stocks because

 45) Mutual funds

 46) The portfolios that mutual funds offer to savers are

 47) In what year did the mutual fund industry in the United States begin?

 48) Closed-end mutual funds

 49) A load fund

 50) Money market mutual funds

 51) What percentage of the mutual fund market is held by money market mutual funds?

 52) The largest category of mutual funds is

 53) Under a current SEC proposal,

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