1. What is the theory that security prices reflect all public information and all historical information, but not all private information? A. nominal-form market efficiency B. strong-form market efficiency C.semi-strong-form market efficiency D.weak-form market efficiency

2.Provo Corporation had cash revenues of $11,000,000, cash operating expenses of $5,000,000, and depreciation and amortization of $1,000,000 during 2015. The firm purchased $500,000 of equipment during the year while increasing its inventory by $300,000 (with no corresponding increase in current liabilities). The corporate income tax rate for Provo is 40 percent. What is Provo's free cash flow for 2015?

3.Which of the following is true of a firm that has no debt in its capital structure?

		Its return on equity (ROE) will be greater than its return on assets (ROA).
		Its return on equity (ROE) will be less than its return on assets (ROA).
		Its return on equity (ROE) will be equal to its return on assets (ROA).
		Its return on equity (ROE) will be equal to its days sales outstanding (DSO).

4. Use the information in the Table below to calculate the expected return for Stock A.

Probability	Return %
0.30	60
0.50	20
0.20	10