Answer the blanks

1. Co. As IPO has a first day return of 20% while Co. Bs IPO has a first day return of 30%, The IPO of company _____ is more underpriced than that of Company ____.

2. An institution that issues its financial claims and then use the proceeds to

purchase securities issued by borrowers is called a financial ______________.

3. ______________ are highly regulated corporations that accept money from savers, pool these funds to reduce risks by diversification, and use the funds to buy stocks, long-term bonds, or short-term debt instruments issued by business or government units

4. One major difference between exchange traded funds and mutual funds is that _____________ are traded only at the end of the day, while ______________ are traded throughout the trading day, like stocks. The market crash on August 14, 2015 exposed a problem of _____________ funds.

5. A REIT that buys, owns, and manages properties is call _________REIT.

A REIT that invests in mortgage loans and mortgage securities is called ____________REIT.

6. If you sell stocks to a dealer, you receive the ______ price. If you buy stocks from a dealer, you pay the _______ price

7. ___________ are cooperative associations whose members are supposed to

have a common bond.

8. A(n) ____________ is any security whose value is derived from the value of some other underlying assets

9. A right to buy or sell an underlying asset sometimes in the future at a price determined to day is called ____________.

10. Forward and futures contract perform the same economic function, _________are tailor-made products while ___________are standardized product