Choose the one word or phrase that best completes the sentence and fill in the appropriate answer above.
1-
Gifts to a charitable ......... trust (CRT) can be made in cash, but more often consist of highly appreciated stock, real estate or a closely held business interest; it pays income to the beneficiary for a fixed period or for life, and at the end of the trust, the remaining assets pass to the charities you have chosen.
A -
recipient
B -
remainder
C -
residual
D -
retirement
2-
The attached tables illustrate the cash flows for an interest ......... loan in its first 10 years under different inflation scenarios: Figure One illustrates the base case, Figure Two shows a potential 'low inflation' scenario and Figure Three a 'high inflation' scenario throughout the 10-year period.
A -
adjusted
B -
calibrated
C -
graded
D -
indexed
3-
The fill ......... order is used by customers wishing an immediate fill, but at a specified price; our floor broker will bid or offer the order three times and immediately return either a fill or an unable.
A -
and nil
B -
at will
C -
or kill
D -
the bill
4-
......... trade account status exists when the purchase and sale or sale and purchase of the same security on the same day in a single account takes place; liquidation of overnight positions and repurchase (or sale) are not considered.
A -
A daylight
B -
An offset
C -
An onboard
D -
A singleton
5-
In order to successfully build models of mortgage ......... that capture prepayment, delinquency and default behavior, we must decide upon common, generally accepted definitions for each of these behaviors.
A -
contingency
B -
exposure
C -
liability
D -
risk
6-
Gold has retrenched below its 20-day moving average of $659.31 to a six-month low of $643.20 where it is now holding but vulnerable to further selling; the ......... has also driven gold below its 50-day and 200-day moving averages of $664 and $646, respectively.
A -
downfall
B -
downtrend
C -
droppoff
D -
falloff
7-
In a market where agents trade via ......... order book, there is no market maker or specialist who provides bid and ask quotes; instead, any sellers/buyers can place offers/bids in this book and wait until the orders get executed, or they can trade immediately by placing a market order against the existing bids/offers.
A -
a limit
B -
an open
C -
a running
D -
a standing
8-
A full ......... enables early round investors to preserve the value of their initial investment in a down round — they get additional 'free' shares so that their effective share price equals the new lower price, thus avoiding a markdown in the value of their investment.
A -
deck
B -
house
C -
monty
D -
ratchet
9-
The 12(b)-1 fee is not like a sales commission, where the investor's initial purchase is reduced by the charge; it is deducted from the assets of the fund; many call this fee a hidden ......... because it decreases a shareholder's earning power each year without showing up overtly as a sales commission.
A -
bite
B -
drag
C -
load
D -
toll
10-
Your profit or loss depends on the difference between your cost ......... and the price at which you sold your investment; in the normal scheme of things, the former is your original purchase price, but sometimes you can make adjustments to that figure to make it larger.