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A. Discuss TWO (2) characteristics of an effective capital market. (5 marks) B. Outline TWO (2) distinguishing features between stocks and bonds as financial market

A. Discuss TWO (2) characteristics of an effective capital market. (5 marks)

B. Outline TWO (2) distinguishing features between stocks and bonds as financial market securities (4 marks)

C. Examine THREE (3) factors that characterize the effective functioning of a developed money market. (6 marks)

D. List FIVE (5) major characteristics of money market instruments.

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