1. A recent review of mutual funds offered by Vanguard, found fund categories with the following titles:

Small Cap

Investment Grade

Tax-Exempt

Money Market

Identify each term and explain the type of security that is likely to be included in this fund.

2. A more specific search found a fund with the following measures:

P/E Ratio 26.4x

Beta 0.96

Explain each term and interpret the meaning of the measure.