1Which of the following are primary reasons for the existence of financial intermediaries within a financial system?
2
According to the Semi-Strong form of the Efficient Market Hypothesis (EMH), what can an investor expect after a highly positive public announcement regarding a stock?
3If the South African Reserve Bank conducts an 'open market sale' of treasury bonds, what is the most likely intended effect on the economy?
4What term describes the phase of the business cycle where real GDP stops declining and reaches its minimum level before recovery begins?
5An investor is comparing an Ordinary Annuity and an Annuity Due with identical payments, interest rates, and durations. Which of the following statements is true?
6Calculate the future value of R1,000 invested for 2 years at a nominal interest rate of 6% compounded daily (use 365 days).
7In the event of a firm's liquidation, which group of stakeholders has the lowest (residual) claim on the firm's assets?
8Which of the following are components of the Capital Asset Pricing Model (CAPM) used to determine the required return on equity?
9If a company has a Beta of 1.25, the risk-free rate is 4%, and the expected market return is 12%, what is the required rate of return using the CAPM formula?
10Which of the following is NOT one of Porter's Five Forces used in industry analysis?
