1. In 2012, ________ was(were) the most significant financial asset(s) of U.S. households in terms of total value. A) pension reserves B) debt securities C) real estate D) mutual fund shares E) life insurance reserves

2. which of the following financial assets made up the greatest proportion of the financial assets held by U.S. households? A) Mutual fund shares B) Debt securities C) Pension reserves D) Personal trusts E) Life insurance reserves

3. The national net worth of the U.S. in 2012 was A) $42.669 trillion. B) $26.431 trillion. C) $70.983 trillion. D) $15.411 trillion. E) $48.616 trillion.

4. The value of a derivative security A) depends on the value of the related security. B) is worthless today. C) is unrelated to the value of the related security. D) has been enhanced due to the recent misuse and negative publicity regarding these instruments. E) is unable to be calculated.

5. Financial assets permit all of the following except A) elimination of risk. B) allocation of risk. C) separation of ownership and control. D) consumption timing.