Fund of investment management 9th edition

All of the above are benefits of dual trading. An employee of an investment house who executes orders on the floor of the exchange for customers of the firm is called a a. Floor broker b. Registered trader C. Commission broker d. Specialist e. A person who is registered to trade on an exchange, who owns a seat but is not an employee of any member firm is a a. Commission broker b. Floor broker c. Registered trader d. Dealer E. B and C. A registered trader B. A specialist c. An odd-lot dealer d.

Commission broker. The major exchange for warrants, options and commodity futures is the a. American Stock Exchange b. New York Stock Exchange c. Which of the following is true of over-the-counter markets? Trading takes place by telephone or electronic network b. The total securities traded represent the largest dollar volume in the U. All of the above are true. ECNs provide several advantages to investors.

Which of the following is not an advantage? They lower the cost of trading compared to organized exchanges with floor trading B. They let everyone know who is making the trade and at what price c. They provide the ability to trade after hours when the exchanges are closed d. They provide more price transparency than organized exchanges.

Households b. Mutual funds c. Private pension plans d. Life insurance companies e. University endowment funds. Electronic communication systems a.

Allow investors to communicate with others in investor chat rooms b. Automatically match buy and sell orders at specified prices d. Are operated by the investment bankers to stabilize new issue markets. Which of the following are exchange-traded funds on the American Stock Exchange?

SPDRS b. Fidelity Mutual Funds D. A and B. Brokers who facilitate trading but provide little research advice are called A. Discount brokers b. Retail brokers c. Wholesale brokers d. Financial service companies e. The biggest dilemma in creating a national market system is a. The development of a composite tape reflecting trades on all exchanges for listed NYSE companies b. Competition between specialists and market makers C.

A computerized system to handle limit orders from all markets d. Full disclosure of all pertinent investment information in the sale of new securities is a provision of the A. Securities Act of b. Securities Exchange Act of c. Securities Acts Amendments of d. Sarbanes Oxley Act of e.

The Securities and Exchange Commission was created by the a. Securities Act of B. Investment Advisor Act of d. Traditionally, the type of security sold by corporations to fund expansion was A. Debt b. Preferred stock c. Common stock d. Stock options e. A and b. The rule attempts to A.

Limit stock price volatility due to program trading b. Increase the liquidity of the market c. Help investment bankers issue new securities more effectively d. Limit short selling by specialists e.

Increase the volatility of the market. Program trading a. Means that when a given market indicator reaches a certain point, a large sale or purchase of securities may take place b. Has been argued that its effect on the market is to accelerate price movements c.

Is likely to be voluntarily restricted by the securities exchanges and their member firms D. Create an insurance pool for brokerage firms so that if one firm went bankrupt, all investor losses would be covered out of the insurance pool. In order to be listed on an exchange, a firm must meet minimum standards pertaining to the following criteria: a.

The number of common shares publicly held b. Net income of the firm c. The number of stockholders owning a minimum of shares D. All of the above are requirements. In general, markets are efficient when a. Prices respond quickly to new information b. Each successive trade is made at a price close to the preceding price c. They can absorb large amounts of securities or assets without changing the price significantly D.

Secondary markets provide everything except A. Illiquidity b. Efficiency c. Continuity d. A difference between the primary market and the secondary market is a.

Liquidity b. That primary markets allow corporations, government units, and others to raise needed funds for the expansion of their capital base C.

Price competition in the secondary markets between different risk-return classes enables the primary market to price new issues at higher prices to reflect existing risk-return relationships d. The secondary market is much more competitive than the primary market.

The investment banker is responsible for everything except a. Underwriting an issue of securities b. Being the leader and a part of the syndicate of large issues, providing that one is formed C. The distribution process of a security issue d.

Selling an agreed-upon number of bonds and stocks. A commission broker is one who a. Is registered to trade on the exchange but are not employees of a member firm b. Is not associated with a member firm C. Represents a retail brokerage firm and transacts business on the floor for customers of that firm d.

Transacts orders for individuals buying or selling less than shares. The New York Stock Exchange measures the performance of specialists based on the following criteria: a. Price continuity b. Price continuity, quotation spreads c. Price continuity, quotation spreads, market depth D.

Price continuity, quotation spreads, market depth, stabilization rate. Euronext and Eurex are electronic communication networks that trade: a. Futures contracts only in Europe B.

Futures contracts in Europe and the Chicago c. Equities in Europe and New York d. Equities and futures contracts only in Europe.

From to large block trades of common stock traded on the New York Stock Exchange increased from 3. This indicates that a. Individual investors are getting out of the market entirely b.

Individual investors are avoiding a long term buy-and-hold strategy in favor of market timing C. The majority of trading is done by institutional investors d. Small investors panic at every market swing due to the crash of Congress to allow A. Financial institutions to offer full financial services such as insurance and investment banking as well as traditional commercial banking b. Financial institutions to be sued by stockholders for off-balance sheet accounting errors c. Savings and loans to compete with commercial banks in both the commercial banking arena and mortgage loans d.

European banks to acquire U. The first exchange to become a publicly traded company was the a. New York Stock Exchange b. Chicago Board of Trade c. Nasdaq Stock Market d. American Stock Exchange E. Chicago Mercantile Exchange. The accounting frauds and scandals that took place during the stock market boom of the late s resulted in what significant act? Sarbanes Oxley Act b. Gramm-Leach Bliley Act c. Glass Steagall Act d. Honesty in Financial Reporting Act e.

Securities Exchange Act. The Sarbanes Oxley Act A. Has reduced the number of foreign companies willing to list their shares on U. Was enacted under the Securities Exchange Act of c.

Reduces the reporting requirements for publicly traded firms d. Has made it possible for small firms to list their shares in the public markets e. Was the loophole that enabled corporate executives to misrepresent their financial statements during the late s and early s. Rent Monthly. Rent Day. What are my shipping options? The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product.

Pricing subject to change at any time. Bradford D. He previously held the duPont Endowed Chair in Banking and Financial Services at the University of Kentucky, where he was department chair for many years. Professor Jordan has published numerous articles in top journals on issues such as cost of capital, capital structure, and the behavior of security prices.

He is a past president of the Southern Finance Association, and he is coauthor of Fundamentals of Investments: Valuation and Management, 9e, a leading investments text, also published by McGraw Hill. He has a long-standing interest in derivative securities and investments and has published numerous articles on various topics in these areas.

His latest research interest is the workings and regulation of small-dollar loan markets. Professor Miller has been honored with many research and teaching awards. Steven D. He teaches primarily in the area of investments, but he also oversees student-run portfolios in both public and private equity. He has received multiple teaching awards and has also published numerous articles in both academic and practitioner outlets.

His principal areas of interest are IPOs, venture capital, financial education, retirement investing, ESG factors, and behavioral finance. His prior experience includes work in both corporate finance and investments, and he currently provides investment consulting for both individuals and businesses. Reduce course material costs for your students while still providing full access to everything they need to be successful. It isn't too good to be true - it's Inclusive Access. Learn more about Inclusive Access here.

When your students still want a book but don't want to keep it, McGraw-Hill's Textbook Rental program provides students with our latest editions at our most affordable hardcover prices.

Learn more about our Textbook Rental program. By prompting students to engage with key concepts, while continually adapting to their individual needs, Connect activates learning and empowers students to take control resulting in better grades and increased retention rates.

Proven online content integrates seamlessly with our adaptive technology, and helps build student confidence outside of the classroom. Available within Connect, SmartBook 2. SmartBook 2. With the ReadAnywhere mobile app, students can now read and complete SmartBook 2. For instructors, SmartBook 2.

After completing your transaction, you can access your course using the section url supplied by your instructor. Skip to main content x Sign In. The text is written in a relaxed, informal style that engages the student and treats him or her as an active participant rather than a passive information absorber.

Fundamentals appeals to intuition and basic principles whenever possible because the authors found that this approach effectively promotes understanding. The text also makes extensive use of examples, drawing on material from the world around us and using familiar companies wherever appropriate. Throughout, the text strikes a balance by introducing and covering the essentials while leaving some of the details to follow-up courses.

Topics are organized in a way that would make them easy to apply—whether to a portfolio simulation or to real life—and support these topics with hands-on activities. This ninth edition provides a terrific framework and introduction for students looking to pursue a career in investments—particularly for those interested in eventually holding the CFA charter. Offers strong, consistent pedagogy, including a balanced, unified treatment of the main types of financial investments as mirrored in the investment world.

Topics organized to be easy to apply and supported with hands-on activities. Provide mapping between the textbook and CFA curriculum. Lowest Price. Rent now.