QUESTION 1

(a) Give Examples of Three (3) financial intermediaries and explain how they act as a bridge between small investors and large capital markets or corporations

(b) Briefly explain 2 advantages and 2 disadvantages of top-down and bottom-up investing styles

QUESTION 2

(a) In what ways is preferred stock like long-term debt? In what ways is it like equity?

(b) Why are money market securities sometimes referred to as Cash equivalents?

(c) Why are high-tax-bracket investors more inclined towards investing in municipal bonds than low-bracket investors?

TYPED PLEASE