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Terms in this set (255)
A rights offering will do what to the company's EPS?A rights offering will decrease the EPS due to more shares outstandingWhen is a warrant at breakeven?market price of stock= warran'ts exercise price + costHow much can someone deduct from their annual income for tax purposes?up to 3,000 of net capital losses can be used each year to reduce ordinary income. any unused losses can be carried forward indefinitelypremium callable bonds are quoted on a ____________ basis and Discount callable bonds are quoted on a _________________basis-premium callable bonds quoted on a yield-to-call basis
-discount callable bonds quoted on a yield-to-maturity basis
- (both quoted at the higher rate)If an investor believe the price of a stock will remain constant, they shouldsell a straddle
a short straddle (sell a call and sell a put)if an investor believes there will be sig. price movement but is unsure of the direction, they shouldbuy a straddle
a long straddle (buy a call and buy a put)A combination includes- simultaneously buying or simultaneously selling both puts and calls on the same security
- strike and or expiration must be differentan investor writes 20 JKL June 25 puts and wants to complete the combinationwrite a 20 JKL July 25 calls (expiration is different)Distributions from REITS are subject toordinary income taxRegulation NMS- encourages market competition
- ensures investors rec. best executionUpon the declaration of a cash dividend, what happens to
- current liabilities
- working capital
- assets- current liabilities increase
- working capital decreases
- no change in cashFor a private placement which is publicly advertised, what amount of accredited and non-accredited investors can participate?unlimited accredited investors
zero unaccredited investors (if it is publicly advertised)If a customer who has an pending sell limit order dies, the RR shouldcancel the order immediately and freeze the accountFormula for POPPOP= (NAV) / (100%-sales charge)
Sales charge = POP - NAVWhen a call option is exercised, the proceeds for tax purposes for the seller would beStrike + Premium (CALL UP)Life Cycle Fund is anasset allocation mutual fund with auto-adjustments as the investor approaches retirementT/F: an investor who is interested in capital preservation would not be likely to purchase an income bondTrue: income bonds are loans to companies in financial distressTotal take down in municipal bond offering equalstotal takedown=additional takedown + selling concessionAn analysis of a revenue bond will include all of the following except
- study of overlapping debt
- feasibility study
- debt service coverage ratio
- engineer's reportAnalysis of Revenue Bonds will not include
- a study of overlapping debt (For GO bonds)Which of the following is NOT a bullish strategy?
- Long XYX May 50 Put, short XYX may 60 put
- Short MNO June 80 call, long MNO June 70 call
- Short RST Oct 30 call, long RST oct 40 putShort RST oct 30 call, long RST Oct 40 putT/F: Variable annuities combat inflation risktrueDebt service ratioEBIT / (principal + interest due)an advertisement sent to 15 retail clients and 25 instiutional investors would be classified ascorrespondence (less than 25 retail clients)a BDC is organized as- a closed - end investment company that takes positions in small to mid sized companies
- they must pass through 90% of taxable income to investorsReg SHO- location regulation
- BD must be able to locate the borrowed security that the investor wants to sell shortWith the 5% policy, as the price increases, what happens to the markup?the markup will decreaseAn investor would purchase an ELN in order toprotect principal
- issued by an IB in the form of a debt securityWhat do GO bonds use to service debt?- direct taxes
- fines
- collection of delinquent fundsDistributions from CMOs are subject to which taxesfederal, state and localwhich type of annuity has th elargest payout?Life annuity, which is also for the shortest time periodPar value / conversion price gives youthe conversion ratio - number of shares of common the holder will rec. upon conversionWhat happens to the margin account when the stock appreciates?when the stock in a margin account appreciates, current MV increases and equity increases
- remember: DR never changes unless explicitly changed by the investorA client who recently retired will receive bennies of 35% of her last 5 years average salary for the next 6 years. What type of plan is she enrolled in?Defined benefit planwhat type of options strategy is this?
- Buy XYZ June 30 call
- Sell XYZ June 35 call- bull call debit spread
- investor is bullish (lower SP sentiment is bullish)What does Sallie Mae do?Sallie Mae provides student loans for higher educationA FINRA member firm must retain customer complaints for4 years, with the first 2 in an easily accessible locationUpon receipt of transfer instrucions (ACAT), the BD has how many days to complete?one business day to verify the account, and 3 business days to transferBeta measuresvol relative to the market (>1 is higher highs and lower lows)Are gifts between spouses completely exempt from gift tax, regardless of the amount?yes!Treasury bills are quoted onOn a discount yield basis.
T-Bills are quoted in the marketplace on a discount yield basis.Reg A +Exemption from registration for public offerings
Tier 1: up to 20M
Tier 2: up to 75M
both during a 12 mo periodLeveraged and inverse ETFs achieve stated objectives on a _________ basisdaily basis (for short term investors)SEP -IRAs are used forsmall business ownersT/F: an investor may use holdings from different fund families to qualify for breakpointsFALSE: investors may not use different fund families to qual for breakpointsWhat should you do if you enter the wrong acct number on an order ticket?notify supervisora 6 month holding period would be applicable for the purchaser of aRule 147 offering (intrastate)What type of risk do equity-linked CD's carry?Risks of Equity-Linked CD's
- liquidity risk
- call risk
- market risk
NOT inflation risk!The writer of a straddle believesthe price of the underlying will stay within a certain range.a max of __________ losses may be used to offset ordinary income3,000If a company has increased earnings but dividends remain constant, what happens to the BSshareholder equity and therefor retained earnings increasesCost basis for calls and putsCall UP (strike + prem)
Put DOWN (strike - prem)The private placement rule states that the person to whom the offer is made must bean informed person who either has access to the same type of information on the registration statement or is given such infoForced conversion happens whenthe call price of a bond is less than the MV of the underlying stock
the holders of the bonds are "forced" to convert to the underlying shares at the call price, even if it's unnatractivewhen a company pays a cash dividend, what happens to the BSA & L decrease, so no change in net worth
No change to REwhen interest rates decrease, the duration of a bond willincrease, resulting in a larger increase in MVBennies of market-linked investmentsMarket Linked Investments
- enhanced income stream
- access to market sectors typically hard to reach for retail investors
- exposure to a particular marketReg T and FINRA maintenance requiremet for
- Long margin accounts
- Short margin accountsLong margin: 50% Reg T, 25% maintenance
Short margin: 50% Reg T, 30% maintenanceThe legal opinion of a muni bond is found on theofficial statementWhich type of company does not protect owners from incurring losses made by the company?Sole proprietorshipParticipating preferred stockreceives both a fixed dividend plus a share of the common dividendBond Buyer Revenue Index (RevDex) includes25 revenue bonds with 30-year maturities and is compounded weeklythe Bond Buyers GO bond index includes20 GO bonds each with ~20 years to maturity and is compounded weeklya debenture isunsecured corporate debtWhen a customer redeems their shares but does not choose a method, which method does the IRS use to determine which shares are redeemed?FIFO - lower cost basis first, which will create a greater capital gainIn a gross revenue pledgeinterest to bondholders is paid first
net revenue pledge: expenses paid before bondholdersDoes a mortgage REIT own real estate?no, only equity REITs own real estateThe flow of funds found within a municipal trust indenture describes disbursement of funds for ___________________ issues and is found within the ____________the flow of funds describes the disbursement of funds for revenue bond issues and is found within the bond contractIf a callable bond is trading at a discount, how would it be quoted?yield to maturityif a callable bond is trading at a premium, how would it be quoted?yield to callregular settlement for U.S. government bonds isthe next business dayStock prices in the over-the-counter (OTC) market are determined bynegotiation between buyers and sellers.If industrial development bonds are called because of condemnation, this would be covered under which clause in the bond indenture?Catastrophe
condemnation is considered a catastrophe and only applies to revenue bondsThe Bond Buyer's 20-Bond Index reflectsthe average yield of 20 high-quality general obligation bonds.for buy-limit orders, when a stock dividend is declared, the limit order is adjusted byadd the new shares to the order and divide the total order value by the new number of sharesWhich of the following individuals would not be permitted to contribute to an IRA?an individual with current income consisting of dividends and capital gains onlyan antidilution feature on a convertible bond meansthe issuer will increase the # of shares available upon conversion if the company declares a stock dividend
more shares, lower conversion priceWhat type of strategy would protect unrealized gains on a short position?buy stop order or buy callsbreakeven point for covered call writing iscost of stock purchased - (premium)requirements to participate in a company's qualified plan- over the age of 21
- been with company at least 1 year
- works 1,000 or more hours per year
- or works 500 hours per year for 3 consecutive yearsthe public offering price for a mutual fund, as quoted, refflectsthe max sales charge the fund distributor collectscommercial paper is quotedon a discounted yield basis (like all zeros)Contributions to ROTH IRAs are made with _________ and distributions are receivedcontributions to ROTH IRAs are made with after tax dollars and distributions are received tax free if the holding period requirements are metwhich type of bond is used to finance subsidized housing and is backed by the U.S. government?Section 8 bonds (New Housing Authority Bonds)
revenue bonds backed by US GovOne of the benefits of adding a sinking fund provision to a municipal bond issue is that the bond will generallybe issued with an interest rate lower than without the sinking fundThe dated date on a municipal bond issue isthe date on which the bonds begin accruing interest.Deferred compensation plans arenonqualified plans that allow an employer to select which plans are more suitable for highly compensated employees who are close to retirementmax sales charge for mutual fund8.5%A client who purchased shares in her margin account must, according to SEC rules, receive her printed confirmationat or prior to completion of the transactiontrades in corporate and U.S. government treasury bonds must be reportedto TRACE by both sides within 15 minutes of the trade executionReclamation procedures for a bond trade may not be used by a broker-dealer if the issuerif the issuer goes into default after the tradeWhich of the following items is not included on a "when-,as -, and if - issued " trade confirmation?the total dollar amount of the tradeThe primary address of the customer would appear onthe trade confirmation, but not the order memorandumthe exercise of an option settlesin two business days
transaction t+1
settlement t+2When the DMM effects trades for its own account to provide continuous liquidity to the marketplace, they are acting as a(n)principalpon the settlement date of an equity trade, the purchasing brokerdealer sends a "due bill" to the counterparty. The purpose of this is torecover the dividend due to the customerthe settlement of a securities transaction is typically handled throughthe cashier's area of the firmWhich items are not included in the order memorandum?- the current market price of the security (obvi)
- the client's name/addressAll unpaid coupons must be attached to a corporate bond to make a delivery when theissuer is in defaultverification that an order was properly effected by the trading department may be foundin the execution reportFinal determination of whether a security is in good deliverable form rests withthe transfer agentIRA characteristics (qualified plan)
- tax treatment for contributions and distributions
- age restrictions (if any)- contributions can be tax-deductible
- must be under 70.5 to contribute
- gains tax deferred until withdrawnAre ROTH IRA distributions taxable?if the owner is at least 59 1/2, and has owned the IRA for at least 5 years, distributions are income tax-free401 (k) retirement plan- type of defined contribution plan (i.e. for younger employees)
- gains tax-deferred until withdrawn
- potential company matchDifferences and similarities between a deferred compensation plan and a defined benefit plan?Deferred compensation plans are non-qualified (employer may discriminate) while defined benefit plans are qualified
both plans are for employees near retirement. Deferred compensation plans are for highly compensated employeeswhich type of risk do fixed annuities carry?purchasing power riskbenefits and risks to a variable annuity- possible hedge against inflation
- investment risktype of common stock suitable for an investor seeking current incomeutility stocks (dividend paying)reinvestment risk is most prevalent in a period offalling interest ratescall risk is most prevalent in periods offalling interest ratesa mutual fund's turnover ratio representsa funds holding period of securities being bought and sold by the fund manager
high turnover ratio = short term capital gains, subject to highest tax rate
High turnover ratio NOT suitable for investors looking to minimize taxesthe max gain, max loss and BE for a debit spreadmax gain: difference between strikes - (net debit)
max loss: net debit
BE: CAL & PSH (calls add net to lower, puts subtract net from higher)the max gain, max loss and BE for a credit spreadmax gain: net credit
max loss: diff between strikes - (net credit)
BE: CAL & PSH (calls add net to lower, puts subtract net from higher)If a customer establishes a debit spread, the customer profits if the:- spread widens
- options are exercisedCustomers seeking to open an options account may have the account approved bythe branch manager initially, as long as it is subsequently approved by a principal who has a series 10 or is a registered options principal (ROP)Nasdaq PHLXa regional exchanged operated by NASDAQ where equity and options contracts are traded electronically and on the floorForeign currency options are quoted incents
buy 2 Dec 81.50 swiss franc calls at 2.5 each = pay .025The writer of a combination expects the market to be:stabledefinition of a combinationa put and call on the same security with strike and or maturity different
write 1 ABC jan 65 put
write 1 ABC jan 55 callWhich of the following will halt trading in listed options when there is a trading halt in the underlying stock?The options exchange on which the option is listed. also halted by the Chicago Board Options ExchangeCharacteristics of yield-based options- european style (an only be exercised on last day of trading)
- settled in cash
- strike prices reflect yield (35 strike price = 3.5% yield)
- based on treasury securitiesWhich of the following transactions in the same security will affect the holding period of a security held for 12 months or less?Buy a put
sell shortto hedge a recent sale of equipment to a US buyer, a japanese exporter wouldbuy japenese yen calls
exporters buy puts (EPIC) on the foreign currency, so they could buy USD puts
IPEC is for foreign - other option would be to buy yen calls (exporters buy calls)If a customer is long ABC Sep 30 calls, and the stock becomes subject to a trading halt on the floor of the NYSE, the customer is permitted toissue exercise instructionsThe derivative-based strategy known as portfolio insurance involvesthe purchase of a put on the underlying security positionfor a long put to cover a short put, it must havethe same or higher strike and the same or longer expirationin a credit spread, the max gain + max loss =the difference in strike pricesin a rising price environment, which valuation method better matches cost with revenue?LIFO
meaning the higher cost of inventory is used to determine COGSin a nonqualified variable annuity, the client pays taxes ononly the growth portion of the withdrawal
non-qualified annuity = after-tax contributionsWrite 1 DOH Jan 30 call
Write 1 DOH Jan 40 put
is an example ofa short combinationA call spread is the combination ofa long call and a short callAt which locations can options orders be executed?NYSE, CBOE, or Nasdaq PHLXOn which of the following positions does the potential loss equal the premium?long putsmarried putsimultaneously buy a stock and buy a put
- type of protective put
- holding period of the stock is not affected, i.e. tax benefitcollars are used toprotect an existing profitWhen a customer transfers the proceeds of a sale from one fund to another within the same family of funds, what are the tax consequencesall gains and losses are recognized at the transfer datewhich type of investment companies cannot be traded OTC?Mutual funds and variable annuities - shares are bought and redeemed through the issuerthe age at which the holder of a variable annuity must begin taking out distributions isno age limit - non qualified annuity
variable annuities are non-qualified (unless stated otherwise)interval fundsclosed-end investment companies that permit shareholders to sell their shares back to the issuer at NAVUnder the Investment Company Act of 1940, investment companies may not distribute long-term capital gains more frequently thanannuallyOpen ended investment companies (mutual funds) may issueonly redeemable, voting common stock. no other types of securitiesWithdrawals from variable annuities are taxed on a ____________ basis and withdrawals from variable life insurance policies are taxed on a ____________basisWithdrawals from variable annuities are taxed on a LIFO basis and withdrawals from variable life are taxed on a FIFO basisThe main difference between ETFs and Mutual Funds is thatETFs are traded on the secondary market, Mutual Funds are not
both are open-end investment companiesshares of mutual funds are bought atPOPthe formula to find the POP of a mutual fund share isPOP= NAV / (100% - sales charge)When calculating net investment income, an investment company includesdividends + interest - operating expenses
Net investment income = gross inv income - operating expensescompared to mutual funds, the tax efficiency of ETFs isbetter than most comparable mutual fundsa registered principal must review and approve a customers application for a deferred variable annuity (when?)within 7 business days of receipt of a complete and correct application packagean RR making a rec for a trust would be most concerned withthe investment objectives of the beneficiary of the trustUnderwriting compensation for a new direct participation program must be10% or less of gross proceeds of the offeringinvestors are likely to exercise a put feature on a bond wheninterest rates are risingZ-tranchea long-term CMO sold at a discount
- a complex product designed for investors who want exposure to RE but does not need interest incomea synthetic long position may be created bybuying calls and writing puts on the same underlying stocktax treatment for an OID (original issue discount) bond?no payment for tax each year, but the cost basis is adjusted annually towards par (accretion)a private placement memorandum (PPM) is the disclosure document that must be provided to _________________ investors in a regulation ________ offeringa private placement memorandum (PPM) is the disclosure document that must be provided to non-accredited investors in a regulation D offeringif a client reinvests distributions from a mutual fund back into the fund, their cost basis willincrease, due to reinvested distributionsA major advantage to a variable annuity for an investor is that the contributionsgrow on a tax deferred basisWould a revenue anticipation note (RAN) be included in a money market account?yes - has a maturity of less than one yearThe OCC Options disclosure document must be received by a customerat or prior to account approvalAn individual holding a variable life insurance policy is considering taking a loan against the policy. This loanmay be taken out against the cash value of the policythe issuer of a callable bond would prefer to have a call premium that isas low as possibleSurrender charges when exiting a variable annuityare usually waved by the insurance company once the holder has remained in contract for at least five years
surrender charges decline over timeREITS pass through what to investors?REITs pass through gains to investors but not lossesThe Monte Carlo Simulation is a model used topredict the probability of different investment outcomes under a wide range of market and economic conditions.A municipal bond issued for the benefit of a corporation, backed by corporate lease payments is a(n)industrial development revenue bondIt is necessary to have a margin account if an investor will beeffecting short sales in corporate securitiesThe Dow Jones Industrial Average is the smallest broad-based stock market index. What is the largest?The Wilshire 5000 Total Market Indexconversion ratio on a bond or preferred stockpar / conversion pricewhat is a suitable retirement plan for an English teacher?403 (b) plans
available to educators and employees of non profitsHR 10 plan is forself employed individualsWhich of the following items would appear in the Notice of Sale?Bidding details
notice of sale used by a municipality in a competitive offering to invite prospective underwriters to submit bids to the issuerobjective of a collar?provide downside protection via a long put and income via the short call
owns a stock and a put and also shorts a calldo corporate bond issuances have to be issued with a trust indenture?yes, if the issuance is greater than $50 millionA registered representative would like to participate in a Q & A session that will be hosted on one of the firm's social media platforms. The individual's participation in this eventis not required to be approved by a principal of the firm as the event would qualify as a public appearancein the event of a stock split, the value of preemtive rightswould not changegifts between spouses areunlimited and are not subject to gift taxeswhen securities are inherited, the cost basis isthe market value at the time of deathT/F: Limit orders must be entered as one trade at the limit pricetrueAn order that is intended to be triggered at a particular price and executed at the next price is astop orderin a margin account, which rates are used?the broker dealer borrows from the bank at the broker call rate
the client borrows from the BD at the margin ratepremiums in a variable life contract arefixed
premiums in a universal variable life contract are flexibleinterest from treasury securities are taxed at thefederal level, but not at the state levelvariable annuities are suitable for which age range?50-60
approaching retirement ageT/F: Registration with the SEC is not required for Reg D offeringsTrue: Reg D (private placement) offerings do not require registration bc they deal with exempt securities
though, issuers still have to file a form D with the SECthose who earn a concession each sale they make in the underwriting of a municipal bond issue are theselling group members
(usually the largest component of the corporate underwriting spread)
selling syndicate members use selling group members to expand their reachthose who receive the total takedown on each sale they make in a muni bond underwriting are thethe selling syndicate memberthose who earn the entire spread on each bond sold in a muni bond underwriting is thesyndicate managerWhen a corporation has an IPO, the shares being offered for sale areauthorized sharesFor the underwriting of a municipal bond issue, competitive bids are submitted by underwriters asa firm commitmentThe underwriting of most corporate issues is done on anegotiated basiswhich of the following new issues would not receive a prospectus?
- closed-end inv company
- municipal revenue bond
- mutual fund
- unit investment trusta municipal bond would not rec. a prospectus because they rec. official statementsRule 144 falls under which Securities Act?Securities Act of 1934 - affects secondary market transactions in restricted and control stockForm 112 must be filed whenever a customerengages in a transaction involving more than $10,000 in currency.customer statements must be retained for6 yearscustomer statements must be sent at leastquarterly
if the account contains penny stocks, it's monthlyRecords relating to terminated representatives must be retained for how many years?3 yearsbond confirmations must disclose which yield?the lower of the YTM or YTCa document which includes rankings would require filing with FINRA how many days before?difference between an S corp and a C corp?S corp flows through losses to investors, C corp does notare customer signatures required on the new account form?no
only the partner, officer or manager (principal)Regulation S-Pprivacy notices
distinguishes between a customer and a consumer
consumer - recieves a one time financial product or service w the firm
customer- ongoing relationshipgenerally speaking, non qualified retirement plans are funded withafter tax dollarsEGTRRA is responsible forcatch up provisions for an IRA
economic growth and tax relief reconciliation act of 2001difference between an investment objective and a goal?goals are what youwant to use the money for, objectives are how you get there.an order is discretionary if what is missing from the client instructions?any of the 3 A's
activity (buy / sell)
amount (# shares)
asset
timing and price are not considered discretionoutstanding stock equalsissued stock - treasury stockthe tax rate for qualified dividendsare lower than for non qualified divs
qualified = taxed at lower LT cap gains rate
nonqualified = taxed as ordinary incomethe max allowable 12b-1 fee under FINRA rules is0.75% (75 bps)
advertising, sales literature and prospectus delivered to potential customers
expressed as an annual percentage but reviewed and charged quarterly
in order to be considered a no load fund, must not charge more than 0.25% 12b-1 feethe concept of a mutual fund distributing its net investment income (NII) through shareholders without first paying is known asthe conduit theory (subchapter M)alpha measuresthe extent to which the return exceeded or fell below expected return for the risk taken
when alpha is negative, the investor's return was too low for the risk takennonsystematic risk can be minimuzed throughprotfolio diversification (business risk can be reduced the most by diversification)tender offers must remain open for at least20 buiz days from the date the offer is first announced (unless withdrawn under Reg 14E)
the target company, within 10 buiz dats of the announcement, must provide the shareholders with a statement
shareholders of the target company are only allowed to tender shares to the extent of their net long positionwhich types of asset classes do poorly in inflationary periods?long term, fixed rate, interest bearing investmentsthe SEC limits a company from repurchasing how many shares25% of the average daily traded volume over the previous four weeksTenant Safe Harbor Actprotects tenants from eviction for failing to pay their rent that came due during the covered period from March 7, 2020 through January 15, 2022, if they suffered a financial hardship due to COVID-19in order to change a customers name on an account,the change must be authorized by a qualified and registered principal designated by the memberwhich party bears the financial risk of unsold shares in a firm commitment underwriting?the syndicate
in a best efforts writing - the fianancial risk rests with the issuerwhen the general partner signs the subscription agreement, this indicatesacceptance of the limited partner as a member of the partnership.cost basis for gifted stockis the MV at the time of deathAre new shares rec. after a stock dividend taxable?no, but investors req. to adjust cost basismoney contributed to a SEP vestsimmediatelyT/F: during the accumulation phase of an annuity, the investor will not incur a tax liabilitytrueassessed valuations indicatesincreasing credit quality of the issuerIf a registered representative participates in an internet chat roomthe representative may not provide projections of investment performance of any investment strategyif a day order is not fully fulfilled,The client must accept the execution and the remainder of the order is canceled after the close.distributions from qualified retirement plans are taxedfully as ordinary income (qualified plans are funded with pre-tax dollars) 401kstocks given as a gift cost basis isoriginal purchase pricecash dividend received by a retail investor would be taxed at a preferred rate if the investorhas held the stock for greater than 60 days surrounding the exdividend date.In a variable life contract, the minimum death benefitis guarunteed and will not changen order for a person associated with a FINRA member firm to open a securities account at a different FINRA member firm,the person must receive written consent from their employer prior to opening such account.the breakeven for a vertical spread will occurin between the two strikes (but not necessarily halfway exactly)Net direct debt equalsNet Direct Debt = Total debt - self supporting - sinking fundMonte Carlo simulationTo provide the investor with a range of possible outcomes and the probabilities they will occur based on a set of variables.Real-time commentary posted to a broker-dealer social media page by a registered representative must beretained in firm files for 3 years and are subject to ongoing review by the firm.Under the Penny Stock Rules, what is required for an investor to be considered an established customer?trading at least three different penny stocks on three different days with the same firmAccording to MSRB rules, all of the following are required customer account information EXCEPT theage and birth date is not required for municipal bonds (MRSB Rules) but it is required for FINRA
also, the name and address of the employer is required under MSRB rulesThe taxing power of an issuer of a limited-tax bond is limited to a specified- a specified maximum rate
- a specified tax sourcewhat will increase the cash debit balance in a margin acct?interest charges and purchases using SMAA measurement of a portfolio manager's performance in relation to the overall market can best be described in terms ofalphaEurobondsdebt instruments issued and sold outside of the country of the currency in which it is denominated.
ex: Eurodollar bonds issued and sold outside of the US but are denominated in USDIRA rollovers must be completed within ____ days.60 dayswhich of the following activities would have a dilutive effect on an investor's position?Conversion of a convertible bond into common stockwhen interest rates rise, what happens to the dollar?strengthensbutterfly spread4 different options contracts
all have the same expiration month
all different strikesobjective of a collarprotect position (long put) and earn income (short call) while owning a stockan rr can see if a trade was solicited or unsolicited by referring to theorder mermorandum / trade ticket
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