Which of the following changes in financial position should be recorded but should not enter into the determination of net income, as identified by the FASB?

• A.Events that are recognized but not realized.
• B.Events that are recognized and realized.
• C.Events that are not realized or recognized.

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Which statement is false?

• A.When prices rise but RoC falls, a top is likely near.
• B.A dead cross is considered to be bullish.
• C.No matter how fast a security advances or declines, the stochastic oscillator will always fluctuate between 0 and 100.

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Unrealistically optimistic assumptions about collectability of receivables and loans is an example of

• A.Following GAAP but selecting alternatives within GAAP that bias or distort reported results to achieve a desired outcome.
• B.Stretching accounting principles to achieve a desired outcome.
• C.Using unrealistic or inappropriate estimates and assumptions to achieve a desired outcome.

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The quantity of real money that people plan to hold depends on these factors:
I). The price level.
II). The nominal interest rate.
III). Real GDP.
IV). Financial innovation.

• A.II, III and IV.
• B.I and II.
• C.All of them.

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If a closed-end mutual fund has a net asset value of $15 and is selling at a discount:

• A.the underlying securities are worth more than $15 per share
• B.the market price of the fund is less than $15 per share
• C.the market price of the fund is greater than $15 per share

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