Which of the following statements about Goldman Sachs and Morgan Stanley is not accurate?

	a.	Morgan Stanleys M&A strategy led to them buying the broker Smith Barney, the online broker e-trade and the asset manager Eaton Vance.
	b.	Goldman Sachs is still Wall Streets last remaining private partnership.
	c.	Morgan Stanleys near death in 2008 caused it to de-risk its balance sheet and boost its wealth management business due to the recurrent, predictable fee income it generates.
	d.	Despite its current CEOs diversification strategy trading and investment banking account for most of Goldman Sachss revenue.
	e.	Morgan Stanley trades at a higher price to book valuation metric than Goldman Sachs.

J.P. Morgan, Barclays, Deutsche Bank and HSBC are examples of global money center banks because their business span consumer, corporate, investment/private banking and they are regarded as too big to fail by the central banks in their home country HQ as their failure would put at risk the entire banking system (systemic risk). Which of the following would not be regarded as a money center bank in the UAE?

	a.	ADCB
	b.	Mashreq Bank
	c.	Ajman Bank
	d.	Emirates NBD
	e.	First Abu Dhabi Bank

Which of the following account for structural changes in the US investment banking industry?

	a.	The dominance of Goldman Sachs and Morgan Stanley increased due to the failure of Lehman Brothers and J.P. Morgans takeover of the failing Bear Stearns.
	b.	Bank of America acquired the retail brokerage house Merrill Lynch.
	c.	The Federal Reserve forced Too Big To Fail (TBTF) money center banks like J.P. Morgan Chase, Citigroup, Bank of America to undergo annual stress tests for capital adequacy and liquidity under adverse macroeconomic scenarios.
	d.	A & B
	e.	A, B & C