Q1: Choose the correct answer with explanations: i. Which of the following is least likely a real asset? A. Currencies. B. Commodities. C. Real estate. ii. Which of the following statements is least accurate? A. Private securities are often illiquid and not subject to regulation. B. In a secondary market, investors buy and sell securities among themselves. C. Money markets refer to markets for equity securities. Which of the following is most likely a drawback of the forward contract? A. Difficult to exit from contract once entered. B. Long party to deposit initial amount. C. Periodic payments made by the party during contract in case of adverse movements. iv. Which of the following is least likely to be included in a fixed-income securities fund? A. Commercial paper. B. Repurchase agreements. C. Warrants. V. Peter decides whether to buy, hold, or sell the shares of an index fund based on a predictive macro-economic model that he has created. He hopes to achieve abnormal returns using this model. Which of the following labels most appropriately describe Peter? A. Arbitrageur. B. Information-motivated trader. C. Investor