1. Real assets include all but which one of the following?

   		Land
   		Buildings
   		$20 bill
   		Patent

2. Match the security to its asset classification.

- A. B. C. D.	Loans
- A. B. C. D.	Share of stock in a company.
- A. B. C. D.	A stock option to buy shares of stock at a given price in the future.
- A. B. C. D.	Various types of claims on real assets or the income generated by them.

A.	Derivatives
B.	Financial Asset
C.	Equity
D.	Fixed-income (or debt)

3. Match the investment process step to its definition.

- A. B. C. D. E.	asset allocation
- A. B. C. D. E.	security selection
- A. B. C. D. E.	security analysis
- A. B. C. D. E.	passive management
- A. B. C. D. E.	active management

A.	Choosing specific company stocks or bonds within an asset class
B.	attempting to identify the best investment securities or to forecast where the market is going
C.	analysis of the value of a security
D.	allocation of an investment portfolio across different asset classes like cash, fixed-come, domestic equities, foreign equities, etc.
E.	buying and holding a diversified portfolio without attempting to identify the best investment opportunities