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标题: Reading 52: Organization and Functioning of Securities Ma [打印本页]

作者: mayanfang1 时间: 2009-1-22 11:35 标题: [2009] Session 13 - Reading 52: Organization and Functioning of Securities Ma

Q7. Which of the following is a difference between primary and secondary capital markets?

A) Primary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while secondary capital markets are where securities trade after their initial offering.

B) Primary markets are where stocks trade while secondary markets are where bonds trade.

C) Secondary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while primary capital markets are where securities trade after their initial offering.

Q8. Which of the following statements regarding secondary markets is least accurate? Secondary markets are important because they provide:

A) investors with liquidity.

B) firms with greater access to external capital.

C) regulators with information about market participants.

作者: mayanfang1 时间: 2009-1-22 11:35

答案和详解如下：

Q7. Which of the following is a difference between primary and secondary capital markets?

A) Primary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while secondary capital markets are where securities trade after their initial offering.

B) Primary markets are where stocks trade while secondary markets are where bonds trade.

C) Secondary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while primary capital markets are where securities trade after their initial offering.

Correct answer is A)

Bonds and stocks are traded on both the primary and secondary markets.

Q8. Which of the following statements regarding secondary markets is least accurate? Secondary markets are important because they provide:

A) investors with liquidity.

B) firms with greater access to external capital.

C) regulators with information about market participants.

Correct answer is C)

Secondary markets are important because they provide liquidity and continuous information to investors. The liquidity of the secondary markets adds value to both the investor and firm because more investors are willing to buy issues in the primary market, when they know these issues will later become liquid in the secondary market. Therefore, the secondary market makes it easier for firms to raise external capital.

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