4) The following is not an example of an equity instrument a) Preferred Stock b) Stock Warrant c) Common Stock d) Bond 5) Approximately, how many public companies are listed on all the US exchanges: a) 2,000 b) 19,000 c) 10,000 d) 40,000 6) The largest financial exposure for state and municipal governments in the coming 30 years is: a) Loss of tax revenue b) Unfunded pension liabilities c) Lack of qualified employees d) Poor infrastructure