24) What is a secondary market? a) Alibaba IPO b) Primary market c) Citigroup USD bond d) Existing shares traded amongst investors e) London Stock Exchange 25) What is a market dealer do? a) Broker b) Acts on behalf of customers Manages NASDAQ c) d) Buys and sells for its own account e) Only provides bid pricing 26) What is a junk bond? a) Russian debt b) Rated below BBB c) Below investment grade d) Puerto Rico Municipal debt e) All of the above 27) What is an example of an interest only (VO) security? a) Corporate bond b) Mortgage c) Treasury bill d) Effective interest rate e) Amortizing security 28) Which is a financial leverage ratio? a) Current ratio b) Profit margin c) Price to book value d) Debt to equity e) Inventory turnover 29) As company has a 2021 profit before tax of $10,000,000, a tax rate of 20%, and debt due in 2027 of $19,000,0000. Its depreciation and amortization for 2021 aggregates $3,000,000. What is its approximate cash flow in 2021? a) $11,000,000 b) $10,000,000 c) $29,000,000 d) $2,000,000 e) $3,000,000