25. During the2008-2009 global financial crisis, the stock market lost approximately:

1. 10 percent of its value
2. 30 percent of its value
3. 50 percent of its value
4. 95 percent of its value

26. Since the global financial crisis, the US stock market has appreciated approximately:

1. Has declined another 20 percent from its global crisis low
2. Is little changed from its global crisis low
3. Has appreciated 50 percent from its global crisis low
4. Has appreciated around 3X from its global crisis low

27. When building long-term investment portfolios, investors must consider their own personal situations for all but which one

1. Risk tolerance
2. NYSE regulations
3. Tax consequences
4. Portfolio yield (dividends and fixed income returns)