13. ___ markets are sustained periods of ____ values, whereas ___ markets are sustained periods of ___ values. We may have some market corrections in between which are characterized by short term reductions when prices have been rising for a time with prices quickly rebounding.

		a) Bull, falling, Bear, rising.
		b) Bear, falling, Bull, falling.
		c) Bear, falling, Bull, rising.
		d) American, falling, Asian, rising.

14. The securities markets could be broken down into 2 parts in many ways: for example, we can separate it as the _____ market and the _____ market; when referring to investment horizons; or the _____ market and the _____ market; when making the difference between newly issued securities available for the first time and previously issued securities.

		a) Bull, Asian, Money, Capital.
		b) Stock, Money, Issue, falling.
		c) Money, Capital, Primary, Secondary.
		d) American, African, Asian, European.

15. You pay $50 for a share of ABC and the price rose to $54 during the year, you sell it for a capital gain. If there is a transaction cost of $1 per share at purchase and $1 per share at time of sale, your total return will be?

		a) $400
		b) $0
		c) $300
		d) None of the above

25. Jessani Mutual funds is a no-load fund that had a net asset value one year ago of $25.60. Today the NAV is $28.83. During the year dividends of $0.72 were paid out and a capital gains distribution of $0.65 was made. Calculate the approximate yield for Jessani Mutual Funds.

		a) $27.3
		b) 27.3 percent
		c) $11.45
		d) 16.9 percent