Which of the following best describes portfolio management? a. The buying, selling and holding of various securities in order to meet a set of predetermined investment needs and objectives b. A procedure used to settle disputes between a brokerage firm and its clients, which makes a final and usually binding decision on the matter c. The process of creation of a document that is made available to prospective security buyers that describes the firm and a new security issue d. The management of a marketplace in which stocks, bonds, and other financial instruments are traded e. The management of an agency of the federal government that regulates the disclosure of information about securities and generally oversees the operation of the securities exchanges and markets A higher home insurance cost may result from: a. the lack of a swimming pool at the insured's residence. b. a low credit score of the insured. c. a low crime rate in the area of the insured's residence. d. fewer captive insurance agents hired by the insurance company. e. fewer insurance claims from the area of the insured's residence. Auto insurance is needed primarily: a. as protection against the cost of significant loss. b. to finance automobile maintenance. c. to satisfy federal requirements for a lawful citizenship. d. to counter the effects of increasing fuel prices. e. as a part of the homeowner's insurance requirements. Which of the following statements about risk is true? a. The higher the risk, the lower the maturity value of the investment. b. The higher the risk, the lower the risk-free rate. c. The lower the risk, the greater the maturity value of the investment. d. The higher the risk, the lower the return. e. The higher the risk, the higher the expected return. An insurance company assigns more complex loss cases to a: a. court investigator. b. captive insurance agent. c. Chartered Property and Casualty Underwriter. d. Certified Insurance Counselor. e. claims adjustor.