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FinancialMarketsandInstitutions,7e(MishkinChapter2OverviewoftheFinancialSystem
2.1MultipleChoice
1Everyfinancialmarketperformsthefollowingfunction:AItdeterminesthelevelofinterestrates.BItallowscommonstocktobetraded.CItallowsloanstobemade.DItchannelsfundsfromlenders-saverstoborrowers-spenders.Answer:D

2FinancialmarketshavethebasicfunctionofAbringingtogetherpeoplewithfundstolendandpeoplewhowanttoborrowfunds.Bassuringthattheswingsinthebusinesscyclearelesspronounced.Cassuringthatgovernmentsneedneverresorttoprintingmoney.DbothAandBoftheabove.EbothBandCoftheabove.Answer:A

3Whichofthefollowingcanbedescribedasinvolvingdirectfinance?AAcorporation'sstockistradedinanover-the-countermarket.BPeoplebuysharesinamutualfund.CApensionfundmanagerbuyscommercialpaperinthesecondarymarket.DAninsurancecompanybuyssharesofcommonstockintheover-the-countermarkets.ENoneoftheabove.Answer:E

4Whichofthefollowingcanbedescribedasinvolvingdirectfinance?AAcorporation'sstockistradedinanover-the-countermarket.BAcorporationbuyscommercialpaperissuedbyanothercorporation.CApensionfundmanagerbuyscommercialpaperfromtheissuingcorporation.DBothAandBoftheabove.EBothBandCoftheabove.Answer:B
5Whichofthefollowingcanbedescribedasinvolvingindirectfinance?AAcorporationtakesoutloansfromabank.BPeoplebuysharesinamutualfund.CAcorporationbuyscommercialpaperinasecondarymarket.DAlloftheabove.EOnlyAandBoftheabove.Answer:
E

6Whichofthefollowingcanbedescribedasinvolvingindirectfinance?AAbankbuysaU.S.Treasurybillfromoneofitsdepositors.BAcorporationbuyscommercialpaperissuedbyanothercorporation.CApensionfundmanagerbuyscommercialpaperintheprimarymarket.DBothAandCoftheabove.Answer:D

7FinancialmarketsimproveeconomicwelfarebecauseAtheyallowfundstomovefromthosewithoutproductiveinvestmentopportunitiestothosewhohavesuchopportunities.Btheyallowconsumerstotimetheirpurchasesbetter.Ctheyweedoutinefficientfirms.Dtheydoalloftheabove.EtheydoAandBoftheabove.Answer:E

8AcountrywhosefinancialmarketsfunctionpoorlyislikelytoAefficientlyallocateitscapitalresources.Benjoyhighproductivity.Cexperienceeconomichardshipandfinancialcrises.Dincreaseitsstandardofliving.Answer:C

9Whichofthefollowingaresecurities?AAcertificateofdepositBAshareofTexacocommonstockCATreasurybillDAlloftheaboveEOnlyAandBoftheaboveAnswer:D
10Whichofthefollowingstatementsaboutthecharacteristicsofdebtandequityaretrue?ATheybothcanbelong-termfinancialinstruments.BTheybothinvolveaclaimontheissuer'sincome.CTheybothenableacorporationtoraisefunds.DAlloftheabove.EOnlyAandBoftheabove.Answer:D

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