1) How does a flat yield curve represent a different interest outlook under the Expectations Theory versus the Liquidity Preference Theory?

2) Why is there a trend towards Passive versus Active investment over the last several years? How do active managers argue they are still relevant and how are they strategically responding?

3) Why would 'haircuts' on collateral increase sharply during a financial crisis?

4) What are the arguments for and against the Federal Open Markets Committee (FOMC) releasing directives immediately after their 6-weekly meeting?

5) What are the advantages and disadvantages of quantitative easing as an alternative to conventional monetary policy when short-term interest rates are at the zero-lower-bound?

(5 marks each )