The most active stock exchange in the world is the Nikkei Stock Exchange. London Stock Exchange. Shanghai Stock Exchange. New York Stock Exchange. Question 21 Exchange traded funds (ETFs) have which of the following features? They are listed and traded as individual stocks on a stock exchange. They are indexed rather than actively managed. Their value is based on the underlying net asset value of the stocks held in the index basket. All of these. Which of the following is not a division of the S.E.C.? The Division of Fraud Investigation The Division of Corporate Finance The Division of Market Regulation The Division of Investment Management The Division of Enforcement Question 23 In the one-period valuation model, a stock's value falls if the rises. dividend expected future price required return on equity current price Preferred stockholders hold a claim on assets that has priority over the claims of both common stockholders and bondholders. neither common stockholders nor bondholders. common stockholders, but after that of bondholders. bondholders, but after that of common stockholders. Question 25 1pts In terms of the attitude of risk, which type of the following investors prefer to take high risk to get high return? Risk averse Risk neutral Risk lover None of above answers