Question 37 Which type of financial intermediary is owned by its depositors, who often are members of a common organization or association? life insurance companies O credit unions commercial banks O mutual funds thrift institutions Question 38 Which of the following represents a secondary market transaction? An investor buys an initial public offering (IPO) stock issue from an investment banker. Kristy sells GM stock to a coworker. Your mother buys 100 shares of a new issue of Berkshire Hathaway stock. To raise interest rates, the Federal Reserve sells U.S. Treasury bonds to investors. Question 39 Everything else equal, which of the following would increase the present value (PV) of a lump-sum amount to be received at some future date? The amount to be received in the future is decreased. The compounding of interest is changed from annually to monthly The amount to be received decreases. The date on which the future amount will be paid is delayed one year ie. the amount is paid one year later) The opportunity cost rate for everyone decreases