Which of the following investments is considered to have the highest potential risk?

a) Treasury bonds

b) Blue-chip stocks

c) Money market funds

d) Penny stocks

25. What does the term "yield curve" represent?

a) The relationship between bond yields and their maturities

b) The relationship between stock prices and trading volumes

c) The relationship between foreign exchange rates and interest rates

d) The relationship between dividend payments and stock prices

26. Which of the following organizations regulates options and futures exchanges?

a) Financial Industry Regulatory Authority (FINRA)

b) Securities and Exchange Commission (SEC)

c) Commodities Futures Trading Commission (CFTC)

d) National Association of Securities Dealers (NASD)

27. What is the role of a transfer agent in the securities industry?

a) Facilitate the transfer of securities from one account to another

b) Execute trades on behalf of clients

c) Provide custodial services for securities

d) Conduct audits of brokerage firms