1. Mary owns 100 shares of stock. Each share entitles her to one vote per open seat on the board of directors. Assume there are three open seats in the current election and Mary casts all 300 of her votes for a single candidate. What is the term used to describe this type of voting?

	Proxy
	Aggregate
	Cumulative
	Straight
	Condensed

2. The payback period is the length of time it takes an investment to generate sufficient cash flows to enable the project to:

	produce a positive annual cash flow.
	produce a positive cash flow from assets.
	offset its fixed expenses.
	offset its total expenses.
	recoup its initial cost.

3. Any person who owns a license to trade on the NYSE is called a:

	dealer.
	floor trader.
	DMM.
O	member.
	proxy.