id,question,choice1,choice2,choice3,choice4,solution,q_id
1,"The depth of the market is measured by…",The number of shares that are available to buy (or sell) at a particular price for a particular stock.,The total number of shares available in the limit order book for a particular stock.,The total number of shares available in a particular market (e.g. the NYSE),All of the above.,The number of shares that are available to buy (or sell) at a particular price for a particular stock.,34
2,"Although markets may not be perfectly efficient, they are relatively efficient. This implies that:",Fundamental analysis based on publicly available information is likely to successfully generate abnormal profits. ,Technical analysis is not likely to be rewarded by substantial abnormal returns.,"As it relates to fundamental analysis, average or below average analysis of publicly available information will likely be fruitful.","As it relates to technical and fundamental analysis, active trading strategies are likely to outperform passive portfolio management strategies. ",Technical analysis is not likely to be rewarded by substantial abnormal returns.,23
3,"Assume that you cannot predict the price over the day for the stock AAPL but you know the distribution of the trading volume over the day. If you were an agency trader and you had to fill an order over the day for your client: Which strategy would you choose?",Buy more shares when the price is low.,Follow a Time-Weighted-Average-Price to buy/sell an even number of shares at even intervals of time. ,Follow a Volume-Weighted-Average-Price (VWAP) strategy to match the market VWAP over the day., Buy shares when the price is low and sell them at the end of the day,Follow a Volume-Weighted-Average-Price (VWAP) strategy to match the market VWAP over the day.,38
4,"From which sector do most NASDAQ stocks come from?" ,Farming,Technology,Funds,Commodities,Technology,9
5,"Who is known as the Oracle of Omaha?" ,Henry Goldman ,Benjamin Graham,Warren Buffett,Charles Ponzi,Warren Buffett,27
6,"The Risk-Return Trade Off principle means that the higher risk yields what effect on return?",Constant return,Higher return ,Lower return,No effect on return,Higher return ,40
7,"What is the formula that properly defines equity?",Assets + Equity = Liabilities,Assets + Liabilities = Equity,Assets = Liabilities + Equity, Assets = Liabilities - Equity,Assets = Liabilities + Equity,33
8,"Consider you have $100 in a fund earning 5 percent interest a year. After 10 years, how much will you have? ",less than $125,between $125 and $200,Between $200 and $275,More than $275,between $125 and $200,29
9,"What is an IPO?" ,The event when companies issue debt., The companies get funded by private investors (venture capitalists).,The event when companies get funded by institutional investors .,The event companies buy back their shares from capital markets,The event when companies get funded by institutional investors .,32
10,"Which statement describes best a compound interest? ",The compound interest rate is applied to the initial amount invested and the interest already earned.,The compound interest rate is applied to the initial amount invested and depends on the number of days elapsed. ,The compound interest rate is applied to the initial amount invested and is fixed.,The compound interest rate is applied to the initial amount invested and depends on the market condition.,The compound interest rate is applied to the initial amount invested and the interest already earned.,31
11,You have hired someone to purchase 100 shares of a technology firm for your portfolio. The person you have hired is acting as a :,financial intermediary ,market intermediary,financial principal,market principal,financial intermediary ,1
12,Which of the following financial intermediaries does not transform the nature of the underlying financial securities? ,Banks ,Insurance firms,Mutual funds ,Pension funds,Mutual funds ,3
13,"Between September and the middle of November 1929, the Dow Jones fell by: ",83 percent,46 percent,51 percent,70 percent,51 percent,10
14,The cost of equity is the cost of funds brought by: ,Shareholders,Creditors,The community of the suppliers of funds,None of the answers above ,Shareholders,16
15,What is the largest financial market  in terms of the total cash value traded? ,FOREX,Spot Market,Bond Market,Stock Markets,FOREX,21
16,Sales turnover shows,company profitability ,company activity,company financing,company solvency,company activity,11
17,The debt/EBITDA measures: ,The ability of a company to pay off its incurred debts,Company level of margins,company working capital needs,company profitability,The ability of a company to pay off its incurred debts,24
18,"When stocks are believed to be headed down, which phrase is usually used in NYSE?",The bears are in charge. ,The bulls have taken over.,The whales are diving. ,Hold your horses. ,The bears are in charge. ,19
19,The first signs of the crisis of 1929 appeared on the stock exchange on : ,Black Tuesday,Black Friday,Black Monday,Black Thursday,Black Thursday,12
20,Which of the following statements is true about the global financial system ? ,Canadian debt and equity markets represent more than 45% of the global financial market ,Canada's net international investment position is always negative in any year,The globalization of the equity markets means that the linkages between the global markets are getting tighter,Canada's financial system is completely separated from the global financial market. ,The globalization of the equity markets means that the linkages between the global markets are getting tighter,4
21,The LIBOR is determined in ,London,New York,Paris,Luxembourg,London,8
22,What is being traded in the FOREX? ,Shares,Currencies,Options,Goods ,Currencies,20
23,The straddle is a combination of ____ which bets on ____ of the market ,future contracts - the decrease ,future contracts -  the increase,options - the increase,options - both the increase and decrease,options - both the increase and decrease,18
24,What distinguishes a hedge fund from other types of mutual funds ? ,Pool the resources of many investors.,Invest in corporate bonds.,Allow internal diversification by investing in stocks of foreign companies.,Require investors to commit their money for long periods of times to attempt long-run strategies.,Require investors to commit their money for long periods of times to attempt long-run strategies.,39
25,Which of the following is a poor motive for M&As?,Diversification ,Economies of scale,Economies of scope,Complementary strengths,Diversification ,7
26,What is the main reason for a firm to go public?,Increasing the firm's prestige and attractivity.,Facilitating acquisitions of other firms. ,Getting feedback on the firm performance,Raising capital ,Raising capital ,13
27,"In this list, one institution is not a depositary institution. Which one?",Commercial banks,Pensions funds,Mutual savings banks ,Savings and Loan associations,Pensions funds,15
28,What do you call the relevant risk that reflects the total market returns and cannot be eliminated by diversification?,Unsystematic risk, Systemic risk,Systematic risk ,Specialized risk,Systematic risk ,36
29,The strategy that provides a safer return on investment is to invest in a stock mutual fund rather than in a single company. Is this statement true?,Yes,No,It depends on the company.,It depends on the market conditions.,Yes,30
30,What US law separate investment banking from commercial banking ? ,Volcker Rule ,Glass-Steagall Act,Dodd–Frank Act,The Investment Company Act,Glass-Steagall Act,25