(a) Investments can be made in both real assets and financial assets. Distinguish the two assets categories. Discuss the significance of financial asset investments. (15 marks) Describe the following assets and categorise them into real or financial assets giving reasons for such classification: patents, copyrights, lease payments, lease obligations, customer goodwill, a university education, a K100 note, a K1 coin, a share of Larfarge Chilanga Cement, and a bank fixed deposit. (10 marks) (b) List and explain the crucial roles that financial markets play in economies around the world citing practical examples of those roles. A number of trends have been noted to have changed the contemporary investment environment. List and explain these trends and discuss their effect or impact on financial intermediation over the recent years