If a corporation fails, the last recipients of funds that may remain are
A) preferred stockholders.
B) common stockholders.
C) bond holders.
D) government tax collectors.
Answer: B
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A bank's commitment to provide a firm with loans up to pre-specified limit at an interest rate that is tied to a market interest rate is called
A) an adjustable gap loan. B) an adjustable portfolio loan. C) loan commitment. D) pre-credit loan line.
Which of the following is not true with respect to underwriting?
A) Announcements of successful underwritings are called tombstones. B) Often a number of investments banks band together in a syndicate to market a new issue. C) Underwritings of new issues take place on the floor of the New York Stock Exchange. D) The investment bank typically guarantees an issuer of securities a price on the new issue.
The Fed has attempted to solve the problems of being unable to directly control the variables that determine economic performance and the timing lags in observing and reacting to economic fluctuations by
A) pressing Congress for legislation which would expand its powers. B) using targets to meet its goals. C) abandoning some goals in order to achieve others. D) devising new monetary policy tools.
President Franklin Delano Roosevelt declared a bank holiday, closing all U.S. banks in ________
A) July 1776 B) October 1929 C) March 1933 D) September 2001