Moving money in and out of the market based on your market expectations is called _____ and tends to lead to returns that are _____ than the overall market return, assuming that the market is relatively efficient. A) asset allocation: higher B) asset allocation: lower C) market timing: higher D) security selection: higher E) market timing: lower Which type of trader is defined as one who decides to trade securities based on publicly available information and analysis? A) informed B) normal C) public D) inside E) block Wilderness Adventures has earnings per share of exist2.45 and dividends per share of exist1.05. The total equity of the firm is exist850,000. There are 40,000 shares of stock outstanding. What is the sustainable rate of growth? (Net Income = ?) A) 4.97 percent B) 3.31 percent C) 2.14 percent D) 6.59 percent E) 5.32 percent Which one of the following prices will an individual investor receive if he or she sells shares of Microsoft? A) offer B) ask C) issue D) Dutch E) bid Which one of the following best describes a broker? A) trader who transacts business on behalf of a securities issuer B) trader who buys and sells from his or her inventory C) firm which charges a commission for arranging a transaction D) person who buys securities for his or her own account on an exchange floor E) intermediary who arranges trades between a buyer and a seller