Dividends are taxed:

At the investor’s marginal income tax rate.
At a maximum rate of 15%.
Only when the stock is sold.
Dividends are never taxed.

The highest denomination of U.S. currency is:

The $20 bill
The $100 bill
The $1,000 bill
The $100,000 bill

A benchmark asset, commonly considered by investors to be risk-free:

Treasury Bill (T-Bill).
Share of preferred stock.
A Eurobond
A junk bond.

The P/E ratio:

Is the same for all firms in a given industry.
Does not change over time.
Is typically higher for firms whose earnings are expected to grow rapidly.
Is the same as the dividend yield.

If you call your broker to purchase a "round lot" you are:

Buying a mutual fund of 100 different stocks.
Authorizing him/her to decide how many shares to buy.
Negotiating commissions on future purchases and sales.
Purchasing 100 shares of a specific stock.

Disability income insurance:

Can cover part of your lost income while you are disabled.
Pays medical expenses associated with a disability.
Should only be purchased by star athletes.
Is primarily for the unemployed.

A zero coupon bond:

Is sold at a discount to face value.
Is worthless.
Matures immediately.
Always has a call feature.

If a mutual fund manager increases his/her cash position, it can be said:

The manager is anticipating a bear market.
The manager is anticipating a bull market.
The manager is trying to reduce the fund’s taxable gains.
The manager is aggressive.