1. In what stage of the life cycle are clients generally in their peak earnings years?

   1. a) Family commitment years

   2. b) Mature earnings years

   3. c) Nearing retirement

   4. d) It is not possible to generalize

2. Which of the following functions in an investment dealer is least likely to be considered middle office?

   1. a) Risk management

   2. b) Corporate treasury

   3. c) Legal and compliance

   4. d) Information technology

3. Prime brokerage is least likely to provide which of the following services?

   1. a) Security settlement

   2. b) Investment research

   3. c) Margin and portfolio financing

   4. d) Equity pre-trade compliance testing