1. The Glass-Steagall Act from the 1930s was:
   1. Passed in 1933
   2. Created to eliminate commercial banks from acting both as 1. A taker of deposits and maker of loans, and 2. An underwriter and seller of securities.
   3. Passed after the 1929 Stock Market Crash and the discovery of fraudulent practices and abusive policies of a number of major banks.
   4. All of the above

1. The combination of Merrill Lynch and Bank of America was a normal, everyday, negotiated merger that had nothing to do with the overall economic situation during 2007-09.
   1. True
   2. False

1. After tax cost of interest deals with the fact that interest is deductible for tax purposes. Therefore, the after-tax cost of interest is calculated by
   1. Calculating the income tax of a corporation before depreciation
   2. Comparing interest to net income
   3. Interest expense times (1- tax rate)
   4. Interest expense times the tax rate

1. The business form with an unlimited life, separation of ownership and management, easy transfer of ownership, and limited liability is:
   1. Corporation
   2. Limited Partnership
   3. Sole proprietorship
   4. General Partnership