8. Which of the following is not an off balance sheet activity for U.S. banks? A. Derivative contracts. B. Loan commitments. C. Letters of credit. D. Assets sold without recourse. E. All the above are off balance sheet activities The short-term mutual fund sector includes A. Money market mutual funds B. Equity funds. C. Bond Funds. D. answers a and b. E. answers a and c. 9. 10. How do you distinguish between securities firms and investment banks? A. Securities firms are concerned with the commercial side of the business while investment banks are concerned with the retail side of the business. B. Securities firms assist in trading of existing securities while investment banks in issuing new securities. C. Securities firms underwrite new issues while investment banks provide brokerage services D. Securities firms originate the issue and investment banks underwrite it. E. Securities firms are concerned with private placements whereas investment banks are concerned with public issues