The following are examples of major risks that face Goldman Sachs even though it is the preeminent global investment bank on Wall Street:

	a.	Goldman has paid $2.9 billion fine on its role in the 1MDB money-laundering scandal in Malaysia.
	b.	Economic recession reduces IPO underwriting mandate and mergers & acquisition revenues.
	c.	Trading securities in global markets is always profitable and does not expose Goldman Sachs to losses.
	d.	A & B
	e.	A, B & C

Many US and European asset managers use environmental, social and governance (ESG) guidelines to shape their investment decisions into the shares of different companies and choice of industry sectors. Blackrock, is the worlds largest asset manager with $8.5 trillion in assets. Which of the following statements is true about Blackrocks investment philosophy and strategy?

	a.	Republican politicians in Texas have criticized BlackRocks public criticism of fossil fuel companies because Texas is a major oil and gas producing state in the US.
	b.	Blackrock CEO Larry Fink has written letters urging corporate leaders to move into a net zero carbon emission world, which would be negative for energy companies.
	c.	State pension fund from Louisiana, West Virginia and Arkansas have pulled out $700 million of investment funds from BlackRock to protest against its investment strategy that is hostile to fossil fuel companies on ESG grounds.
	d.	A & B
	e.	A, B & C

The Federal Reserves Federal Open Market Committee (FOMC), raised interest rates by 0.75% at its scheduled meeting on September 21, 2022. What was the immediate impact of the US central banks rate hike and chairman Powells hawkish resolve to continue monetary tightening until the inflation rate fell back to 2%?

	a.	An immediate rise in the US dollar and Treasury bond yields.
	b.	An inverted Treasury bond yield curve that predicts a recession in the US.
	c.	A fall in the US dollar and Treasury bond yields.
	d.	A & B
	e.	A, B & C