What are the main disadvantages of preferred stocks with respect to common stocks? (a) Preferred stocks' dividends are always paid first b) Preferred stocks typically have limited voting rights and forgo future dividend growth ) Preferred stocks typically have limited voting rights and are more likely to miss dividend payments d) Preferred stocks dividends are paid last in case of default (e) Preferred stocks normally pay lower dividendse According to the semi-strong market efficiency hypothesis, (a) Price reflects all information available to insiders 6) Price reflects information contained in past prices c) Price reflects information contained in firms' earning announcements and past prices (d) Price reflects information from macroeconomic announcements and information contained in past pricese (e) Price reflects all public information and information contained in past prices Which of the following statements about interest rate risk are correct? I: Interest risk measures sensitivity of bond's yield to maturity to its maturity II: If everything else is held equal, interest rate risk is higher for bonds with longer maturities III: If everything else is held equal, interest rate risk is higher for bonds with lower coupon rates IV: Zero-coupon bonds are not exposed to interest rate riske (a) I only b) II only (c) I, II and III (d) II and III (e) II and IV