1. January effects is least likely to be explained by:

A. Tax loss selling.

B. Disposition effect.

C. Window dressing at year end.

2. Evaluate the following statements.

Statement I: "Each share has one vote under the statutory voting system."

Statement II: "Putable common shares give the firm the right to sell the share at a pre-determined price."

A. Both statements are correct.

B. Only one statement is correct.

C. None of the statements are correct.

3. American depository receipts are:

A. Denominated in Euros.

B. Ownership in foreign companies.

C. Issued outside the United States.