1. True or False? Realized returns are backward looking but expected returns are forward looking. a. True b. False 2. True or False? Cash-flow from operations is generally equal to operating cash flow. a. True b. False 3. True or False? Compensation awarded this year should be included in this year's cash flow. a. True b. False 4. True or False? Investing for the long-term necessarily involves compound return calculations. a. True b. False 5. True or False? On average, companies acquired other firms experience a rise in their stock price. a. True b. False 6. True or False? The continuous return is the lowest APR for $100 to grow to $110 in one year. a. True b. False 7. True or False? At any point in time, the real rate of return can be observed directly. a. True b. False