1.Which of the following statements is CORRECT?

a.If you sold 10 shares of Apple stock through your online brokerage account, then this would be a primary market transaction.

b.Physical location exchanges are formal organizations having tangible physical locations that conduct auction markets in designated securities.The NYSE exists as a physical location exchange.

c.Money market instruments include long-term debt securities and common stock.

d.An example of a primary market transaction would be your uncle transferring 100 shares of Target stock to you as a birthday gift.

e.While the two frequently perform similar functions, investment banks generally specialize in lending money, whereas commercial banks generally help companies raise large blocks of capital from investors.