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(a) With regard to the stock market, briefly explain THREE (3) major differences between exchange-traded markets and over-the-counter markets. (6 marks) (b) Distinguish between Direct

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(a) With regard to the stock market, briefly explain THREE (3) major differences between exchange-traded markets and over-the-counter markets. (6 marks) (b) Distinguish between Direct Finance and Indirect Finance in the field of Financial Market (4 marks) ii. Support your answer by using the relevant diagram. (4 marks) (c) Define derivatives and give THREE (3) purposes of derivatives. (6 marks)

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