Essentials of Corporate Finance 1st Edition Parrino Test Bank

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    Essentials of Corporate Finance 1st Edition Parrino TEST BANK Full download: https://testbanklive.com/download/essentials-of-corporate-finance-1st-edition- parrino-test-bank/ Essentials of Corporate Finance 1st Edition Parrino SOLUTIONS MANUAL  Full download: http://testbanklive.com/download/essentials-of-corporate-finance-1st-edition- parrino-solutions-manual/  File: c02; Chapter 2: The Financial System and the Level of Interest Rates Format: True/False Learning Objective: LO 1 Level of Difficulty: Easy 1. The role of the financial system is to gather money from people and businesses that have funds to invest and to channel money to those that need it. A) True B) False Ans: A Format: True/False Learning Objective: LO 1 Level of Difficulty: Easy 2. The financial system is nothing more than a collection of financial markets. A) True B) False Ans: B Format: True/False Learning Objective: LO 1 Level of Difficulty: Easy 3. Without a financial market, purchasing a house would require a cash purchase. A) True B) False Ans: A Format: True/False Learning Objective: LO 1 Level of Difficulty: Easy 4. Governments are the principal lender-savers in the economy. A) True B) False Ans: B Format: True/False Learning Objective: LO 1 Level of Difficulty: Medium    5. Businesses are the principal borrower-spenders in the economy. A) True B) False Ans: A    Format: True/False Learning Objective: LO 1 Level of Difficulty: Easy 6. Direct financial markets could be broadly labeled as wholesale markets for funding. A) True B) False Ans: A Format: True/False Learning Objective: LO 2 Level of Difficulty: Medium 7. A privately held corporation securing a loan from its regional commercial bank is an example of a direct market transaction. A) True B) False Ans: B Format: True/False Learning Objective: LO 2 Level of Difficulty: Medium 8. The law that barred commercial banks from investment banking activities is the Financial Services Modernization Act of 1999. A) True B) False Ans: B Format: True/False Learning Objective: LO 2 Level of Difficulty: Easy 9. Today, large money center banks in U.S have been allowed back into the investment business. A) True B) False Ans: A Format: True/False Learning Objective: LO 3 Level of Difficulty: Easy 10. A primary market is any financial market in which owners of outstanding securities can resell them to other investors. A) True B) False Ans: B    Format: True/False Learning Objective: LO 3 Level of Difficulty: Easy 11. The vast preponderance of securities sales on the New York Stock Exchange are secondary market transactions. A) True B) False Ans: A Format: True/False Learning Objective: LO 3 Level of Difficulty: Medium 12. The existence of an active secondary market for a security will help enhance the price for a security in the primary market. A) True B) False Ans: A Format: True/False Learning Objective: LO 3 Level of Difficulty: Medium 13. The downside to a private placement transaction is that it does not require the fees and expenses associated with an SEC registration. A) True B) False Ans: B Format: True/False Learning Objective: LO 3 Level of Difficulty: Easy 14. Brokers are market specialists who do not bear risk of ownership of securities. A) True B) False Ans: A Format: True/False Learning Objective: LO 3 Level of Difficulty: Easy 15. The term money market reflects the idea that the instruments traded in the money market are highly marketable and easily converted into cash. A) True B) False Ans: A
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