A stock's dividend yield is calculated by dividing:

a) The stock's annual dividend by its current price

b) The stock's current price by its earnings per share

c) The stock's annual dividend by its market capitalization

d) The stock's current price by its book value per share

77. What is the role of the Financial Industry Regulatory Authority (FINRA) in the securities industry?

a) To regulate and oversee broker-dealers and their registered representatives

b) To issue new securities to the public

c) To provide investment advice to clients

d) To manage stock exchanges and OTC markets

78. In finance, the term "alpha" refers to:

a) The risk-free rate of return

b) The excess return of an investment compared to a benchmark

c) The correlation between two investment portfolios

d) The standard deviation of an investment's returns