Weekly Review Quiz as of 2011-02-24
Finance
Mutual Funds' Muni-Debt Prices Are Questioned
by Jean Eaglesham, Michael Corkery and Carrick Mollenkamp
02/18/2011
http://online.wsj.com/article/SB10001424052748703561604576150792788023516.html
1. The Securities and Exchange Commission is investigating whether some mutual funds have
* a) overstated the value of risky municipal bonds that are thinly traded
b) underreported fees assessed on fund investors
c) diverged too far from stated fund objectives
d) allowed institutional investors to buy shares below net asset value (NAV)
e) made illegal political contributions
Retiring Boomers Find 401(k) Plans Fall Short
by E.S. Browning
02/19/2011
http://online.wsj.com/article/SB10001424052748703959604576152792748707356.html
2. According to a study by the Center for Retirement Research for The Wall Street Journal, the median household headed by a person aged 60 to 62 with a 401(k) account has ______of what is needed in that account to maintain its standard of living in retirement.
a) approximately 150%
* b) less than 25%
c) more than 200%
d) approximately 70%
e) just short of 100%
FDIC May Sue WaMu Executives
by Dan Fitzpatrick and Jean Eaglesham
02/22/2011
http://online.wsj.com/article/SB10001424052748703610604576158683650923442.html
3. The Federal Deposit Insurance Corp. has sent letters warning of possible legal action to former executives of which of the following failed financial institutions?
a) Bear Sterns
b) Citigroup
* c) Washington Mutual Bank
d) Countrywide Financial
e) Lehman Brothers
News Corp. Agrees to Buy Shine Group
by Paul Sonne
02/22/2011
http://online.wsj.com/article/SB10001424052748704476604576158171676721018.html
4. News Corp. has agreed to buy television-production company Shine Group. What relationship does the individual who runs Shine have to Rupert Murdock, the chairman of News Corp?
* a) daughter
b) second wife
c) son-in-law
d) oldest son
e) youngest son
Middle East Roils Markets
by Liam Pleven, Jonathan Cheng and Guy Chazan
02/23/2011
http://online.wsj.com/article/SB10001424052748703775704576160840626522236.html
5. On Tuesday, February 22, which of the following contributed to a jump in the price of crude oil and gold and a drop in the Dow Jones Industrial Average and Treasury yields?
a) Wal-Mart announced a quarterly loss
b) the Federal Reserve announced another round of quantitative easing
c) the Commerce Department revised downward its estimate of new home sales
* d) Libya’s descent into violence
e) the Congressional Budget Office released new deficit forecasts