Regulation NMS:
I. Supports the goal of integrating financial markets II.
II. Requires the use of specialists to execute trades
III. Requires that exchanges honor quotes of other exchanges when they can be executed automatically
A. I only
B. I and II only
C. I and III only
D. I, II, and III
C. I and III only
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For what reason would a company buy 10% of the common stock of a second company?
a. The company has idle cash and wishes to have a higher return than that available from temporary money market investments. b. The company wishes to insure a steady source of goods from the second company. c. The company wishes to prepare consolidated financial statements. d. More than one of the above is correct.
A defense to a civil action brought under Section 10(b) and Rule 10b-5 of the 1934 Act would be:
a. that the statute of frauds was not observed. b. that the seller of the securities was not in privity of contract with the plaintiffs. c. that the sellers did not intentionally or recklessly make a false representation. d. All of the above.
Dissolution is the legal death of the artificial "person" of a corporation.
Answer the following statement true (T) or false (F)
Why might the price of a share of a closed-end fund diverge from its NAV?
What will be an ideal response?