Which of the following assumptions imply an informationally-efficient market?
I). Many profit-maximizing participants, each acting independently of the others, analyze and value securities.
II). The timing of one news announcement is generally dependent on other news announcements.
III). Security prices adjust rapidly to reflect new information.
IV). A risk-free asset exists, and investors can borrow and lend unlimited amounts at the risk-free rate.

BWT, Inc. shows the following data in its financial statements at the end of the year. Assume all securities were outstanding at the beginning of the year:
6.125% convertible bond, convertible into 33 shares of common stock. Issue price $1,000, 100
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bonds outstanding.
6.25% convertible preferred stock, $100 par, 2,315 shares outstanding. Convertible into 3.3
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shares of common stock, Issue price $100
8% convertible preferred stock, $100 par, 2,572 shares outstanding. Convertible into 5 common
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shares, Issue price $80
9,986 warrants are outstanding with an exercise price of $38. Each warrant is convertible into 1
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share of common.
Average market price of common is $52.00 per share.
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Common shares outstanding at the beginning of the year were 40,045.
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Net Income for the period was $200,000, while the tax rate was 40%.
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What were the preferred dividends paid this whole year?

Consider the following statements relating to sample size and confidence intervals:
I). The width of a confidence interval decreases as the sample size increases.
II). When width of a confidence interval decreases this is due to standard error becoming smaller.
III). More precise results are obtained when the sample size is increased.
Which is true?

Which of the following is not one of the eight main sections of GIPS?

A contract places an obligation on a trader to sell a security at a fixed price to the other party on or before a specified date at the discretion of the latter. This is a