1. Benefits offered by public unit trusts to retail investors include:
   1. Access to investment in the wholesale financial markets
   2. The services of professional portfolio managers
   3. Liquidity, whether provided by the trust setting bid and offer prices or by unitsbeing on an exchange
   4. All of these
2. Which of the following statements is TRUE if the efficient market hypothesis holds?
   1. It implies perfect forecasting ability
   2. It is implies the market irrational
   3. It implies that tomorrows price will be the same as todays price
3. Australia financial markets:
   1. Facilitate intermediation through the issue of securities
   2. Are all Over-the-counter markets
   3. Use ratings agencies to clear each trade
   4. OTC markets arrange trades in wholesale amounts
   5. Are subject to security laws that are administered by APRA
4. The price discovery function of market is useful:
   1. To investors, to help the monitor the value of their investments
   2. To potential issuers of securities because it informs them of the proceeds they can expect to receive
   3. In revealing the general movement in market values through indices
   4. All of these