If the Federal Reserve wished to ease credit, which of the following steps would it take?

• A.raise the discount rate
• B.purchase securities in the open market
• C.lower reserve requirements
• D.both B and C

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A short sale can be made in which of the following types of accounts?

• A.special cash account
• B.a custodian account
• C.margin account
• D.special memorandum account

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A market-maker has purchased a particular stock over a period of time for prices as high as $9 per share and as low as $3 per share. The average cost is approximately $6 per share. The current NASDAQ quote for the stock is 5 to 5.25. According to the FINRA Conduct Rules, the dealer's offering price to the public should be based upon:

• A.the current market for the stock
• B.$3
• C.$9
• D.$6

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A large manufacturing company has current assets of approximately $9,400,000 and current liabilities of about $4,900,000.
Which of the following statements is true about the current ratio?

• A.it is substantially below the standard minimum
• B.it is somewhat below the standard minimum
• C.it is about the standard minimum
• D.it is somewhat above the standard minimum

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Which of the following sets out the details for the management board of condominiums, including the board's powers and limitations?

• A.master deed
• B.bylaws
• C.rental agreement
• D.loan agreement

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