1. Assuming the same stated rate, which compounding frequency would give you the best overall investment return?
   1. Continuous
   2. Quarterly
   3. Semi-Annually
   4. Monthly
   5. Annual
2. The owner of an American Put Option has the ______________________ an asset at a set price on or before a set date
   1. right but not the obligation to sell
   2. right but not the obligation to sell
   3. obligation but not the right to sell
   4. right and obligation to sell
   5. obligation but not the right to buy
   6. right and obligation to buy
3. True or False: Mutual Funds may have Back-End Load Charges (redeption fees)
   1. True
   2. False
4. Carpenter Inc. stock currently sells for $100 per share. You decide to pay a $15 premium to purchase a put option with a strike price of $110. The Time Value of the option is
   1. $20
   2. $0
   3. $5
   4. $10
   5. $15
5. True or False: All municipal bonds are tax-exempt
   1. True
   2. False