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9. Which of the following statements is true about secondary markets? A) In secondary markets, outstanding shares of stock are bought and sold among investors.

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9. Which of the following statements is true about secondary markets? A) In secondary markets, outstanding shares of stock are bought and sold among investors. B) Most secondary market transactions directly affect the capital of the firm that issues the securities. c) An active secondary market causes firms to sell their new debt or equity issues at a higher transaction cost of funds. D) All of the above statements are true 10. hich of the following statements is true about secondary markets in the United States? A) In terms of market capitalization (total stock value) of the firms listed, the NASDAQ is the largest in the world and the NYSE is the second largest. B) NASDAQ is an OTC (over-the-counter) market. c) Firms listed on the NASDAQ tend to be, on average, larger in size, and their shares trade more frequently than those traded on NYSE D) In the United States, most secondary market transactions are done over the counter 11. Which of the following statements is NOT true about secondary markets? A) In terms of market capitalization (total stock value) of the firms listed, the NASDAQ is the largest in the world and the NYSE is the second largest. B)NASDAQ is the second-largest stock market in the United States. c) Firms listed on the NYSE tend to be, on average, larger in size and their shares trade more frequently than those traded on NASDAQ D) In the United States, most secondary market transactions are done on one of the many stock exchanges. 12. In comparison to the NYSE, A)NASDAQ has less company listed. B) total share volume is lower on the NASDAQ. c firms listed on the NASDAQ tend to be smaller. D) NASDAQ firms exceed NYSE listed firms in total capitalization. 13. Direct search markets are characterized by A) complete price information. B) extensive broker and dealer participation. cprivate placement transactions and sale of common stock of small private companies D) a high level of efficiency

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