[单项选择]The recent creation of indexes tracking both stocks and bonds provides better benchmarking information for which of the following portfolios（　）
A. sector index funds.
B. the typical stock mutual fund.
C. investment funds broadly diversified across asset classes.

[单项选择]With regard to stock market indexes, it is least likely that:（）
A. the use of a geometric mean produces a downward bias on an equal-weighted index compared to the use of an arithmetic mean.
B. the use of price weighting versus market value weighting produces a downward bias on the index.
C. a value-weighted index must be adjusted for stock splits but not for dividends.

[单项选择]The recent fluctuation of the stock market in New York was due to
A. Greenspan’s remarks.
B. the slack US business.
C. the excessive optimism.
D. the weakened US economy.

[单项选择]Bond market indexes are generally more difficult to create than stock indexes for all of the following reasons except:（）
A. the small number of bond issues relative to stocks.
B. the routine maturity and call provisions of bonds.
C. the difficulty in establishing market prices for many bonds.

[单项选择]Which of the following sets of indexes are price-weighted（）
A. Dow Jones World Stock Index and Russell Index.
B. Morgan Stanley Capital International Index and S&P 500 Index.
C. Dow Jones Industrial Average and Nikkei Dow Jones Stock Market Average.

[填空题]
Participants in the stock market range from small individual stock investors to large hedge fund traders, who can be based anywhere. Their orders usually end up with a professional at a stock exchange, who executes the order of buying or selling.
(9) thus providing a marketplace (virtual or real). The exchanges provide real-time trading information on the listed securities, facilitating price discovery.
Some exchanges are physical locations where transactions are carried out on a trading floor, by a method known as open outcry. This type of auction is used in stock exchanges and commodity exchanges where traders may enter "verbal" bids and offers simultaneously. (10) composed of a network of computers where trades are made electronically via traders.
Actual trades are based on an auction market model where a potential buyer bids a specific price for a stock and a potential s

[单项选择]
A public corporation issues certificates of ownership, called common stock, which may be traded on stock exchanges.Anyone can buy and sell shares of common stock.Owners of stock are referred to as shareholders and stockholders. common stockholders are accorded certain rights by the corporate charter.In the United States, these rights vary from state to state, but in general the articles of incorporation spell out voting rights and rights to receive profits.
Common stockholders are the voting owners of a corporation.They are usually entitled to one vote per share.They may vote on numerous issues affecting the corporation (including a decision to sell or merge with another corporation) and elect a board of directors, who, in turn, hire managers to run the business.A majority shareholder is one who owns over 50 percent of the outstanding shares in a corporation and, thus, can call the shots.All
A. the voting rights the stockholders have.
B. the stock shared by common people.
C. the profits the shareholders receive.
D. the ownership of a public corporation.

[单项选择]
The stock market is one of the most important (21) ... for companies to raise money. This allows businesses to be publicly (22) or raise additional financial capital for expansion by selling shares of ownership of the company in a public market. The (23) ... that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of (24) ... in stocks.
Exchanges also act as the (25) ... for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could (26) ... on the transaction. The smooth functioning of all these activities facilitates economic growth in that lower costs. In this way the financial system is assumed to contribute to increased prosperity.

[填空题]
A stock market crash is often defined as a sharp dip in (31) ... prices of equities listed on the stock exchanges. In parallel (32) ... various economic factors, a reason for stock market crashes is also (33) ... to panic and investing public’s loss of confidence. Often, stock market crashes end speculative economic bubbles.
There have been famous stock market crashes that have ended in the (34) ... of billions of dollars and wealth destruction on a massive scale. An increasing (35) ... of people are involved in the stock market, especially since the social security and retirement plans are (36) ... increasingly privatized and linked to stocks and bonds and other elements of the market. There have been a number of famous stock market crashes like the (37) ... Street Crash of 1929, the stock market crash of 19734, the Black Monday of 1987,