Had to take multiple pictures for photos to be clear.

QUESTION 10 If you by the 10% stocks on the market with the lowest Amud's liquidity measure and shorts should expect Oa a negative nisk-adjust return because high liquidity is associated with a retum discount b. a negative risk-adjust return because stocks with high liquidity are likely to be overpriced. Oc a positive rink-adjust return because low liquidity is associated with a return discount. Od zoro risk-adjust return because liquidity is not associated with expected return e none of the above options. QUESTION 11 Which one of the following statements is TRUE regarding tax costs? O a One possible way to lower tax costs is to hold securities for more than one year before selling Ob. Long-term (> 1 year) capital gain tax rate equals to personal income tax rate c. Investors can use up to $30.000 capital oss to offset their gains for a particular year Od. The capital loss that is beyond the annual init cannot be carried forward. e. None of the above options is false, QUESTION 12 Which one of the following statements is TRUE regarding value and growth stocks? a. During 1991-2011, value stocks have higher returns and lower volatility, b. During 1907-2011, value stocka he lower returns and higher volatility Chek Suver coul Submit to save and robot, Chick Save All Abouw all . 2 3 % 5 4 W E R S DF didity measure and shorts the 10% took the highest Amhus liquidity mature, you city in it with a retum discount high liquidity are they to be carried ty is associated with a return discount sociated with expected return ording to securities for more than one year before selling them to make the capital gain to be long-term is to personal income tax rate no offset their gains for a particular year cannot be carried forward ning value and growth ok? retums and lower volt retums and higher voitty 3 13 6 ON 7 8 9 > R T Y F G . J K B N M QUESTION 12 Which one of the following statements is TRUE regarding value and growth stocks? a. During 1991-2011, value stocks have higher retums and lower volatility, b. During 1991-2011, value stocks have lower retums and higher volatility, Oc. During 1991-2011, value stocks have higher retums and higher volatility Od. During 1991-2011, value stocks have lower returns and lower volatility De None of the above options Ghid Sabit to and submit. Click Se Allt sove allant Ha ! 1 NO 2 # 3 4 $ 4 % 5 Q W E E R T S D F G N V I ion command