1.Preferred stock does not create a liability for a firm when its dividends are deferred.

True

False

2.

Since 2006, a member is an owner of a trading license on the NYSE.

True

False

3.

Since 2006, a member is an owner of a trading license on the NYSE.

True

False

4.

An agent who buys and sells securities from inventory is called a commission broker.

True

False

5.

A broker is an agent who buys and sells from inventory.

True

False

6.

The price of a stock at year 5 can be expressed as D₅ / (R - g).

True

False