1. Which of the following individuals would best be identified with the Behavioral Finance school regarding securities markets efficiency? I. Eugene Fama II. Richard Thaler III. Andrew Lo IV. Burton Malkiel V. Robert Shiller

   		II, and IV
   		II, III and V
   		II and III
   		V only
   		I, II, IV, and V

2. Which of the following statements is TRUE about Unit Investment Trusts. I. A Real Estate Investment Trust (REIT) is a type of UIT that invests in real estate and real estate related securities. II. Once the portfolio of the UIT is set up, it is the responsibility of the general partners of the UIT to manage the portfolio. III. UITs issue unit certificates (UCs) which are sold and redeemed only by the issuing UIT. IV. The key aim of Unit Investment Trust (UIT) is to produce an income flow to the UIT portfolio which is then passed on (after fees) to UIT shareholders. V. A Unit Investment Trust (UIT) will have a fixed termination date (i.e., a single maturity date when the UITs portfolio will liquidated and the UIT closed).

   		I, III, IV and V
   		I, II, III, and V
   		II and V
   		III, and V
   		I, II, and III

3. On a risk-adjusted basis, which of the following investment styles has historically performed best?

   		Small-cap growth
   		Large-cap value
   		Small-cap value
   		Large-cap growth

4. Which of the following individuals would be a supporter of the Efficient Market Theory (EMT)? I. Richard Thaler II. Eugene Fama III. Burton Malkiel IV. Robert Shiller V. Andrew Lo

   		I, II, and V
   		II and IV
   		II and III
   		IV and V
   		II, IV, and V