midterm_exam1

midterm_exam1 - Midterm Exam #1 Economics 252 Financial...

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Midterm Exam #1 Economics 252 Financial Markets Prof. Robert J. Shiller February 21, 2007 There are two parts to this exam. In Part I, answer any eight of the ten questions, four minutes each. In Part II, answer any four of the five questions in Part A and any four of the five questions in Part B. For the entire exam, you must answer 16 questions total, 64 minutes total. You have 75 minutes to do the exam. Exam is not open book. Use two bluebooks, and put Part I and Part II in separate bluebooks, your name on both bluebooks (as they will be separated and graded separately). Part I. Answer eight of the ten questions, 4 minutes each. 1. What is an investment company: who does it serve and what is its product? 2. What is the St. Petersburg Paradox and why did Bernoulli think that the assumption of log utility resolves it? 3. What is the difference between a general account product and a special account product at an insurance company? 4. What is John Rawl’s “original position,” and what does it have to do with finance? 5. How do exchange-traded funds differ from mutual funds? 6. Describe a couple important “calendar anomalies” that Siegel lists as challenging the efficient markets hypothesis. 7.
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midterm_exam1 - Midterm Exam #1 Economics 252 Financial...

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