ETFs have several advantages over open-end mutual funds, including the ability to

I. trade throughout the day at continuously updated prices. II. purchase ETF shares on margin. III. sell ETF shares short. IV. sell the shares back to the fund.

Select one:

a.

I, II, and III only

b.

II and III only

c.

I, III, and IV only

d.

II, III, and IV only

e.

I, II, III, and IV

The problem of moral hazard

Select one:

a.

means that those people who apply for insurance are most likely to need the insurance coverage

b.

is mitigated by deductibles

c.

implies that many people who do not need insurance coverage have it through group plans

d.

means that the insured is more likely to protect property than uninsured