sample-midterm-1

sample-midterm-1 - SAMPLE EXAM Disclaimer: While the format...

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SAMPLE EXAM Disclaimer: While the format of the midterm will be similar to this exam, there is no guarantee that the exam will be of the same level of difficulty EXAM INSTRUCTIONS There are 10 very short answer questions (worth 3 points each), which will need answers of no more than a sentence. The short answer questions (worth 7 points each) can (and should) be answered in short paragraphs of 4-5 sentences. Undergraduate students will be asked to choose 9 of the 10 very short and 9 of 10 short answer questions. Graduate students will answer all questions. You have an hour and twenty minutes to answer the questions. Please maintain the highest standards of academic integrity. 1. There are two limit orders to buy at $20 (which is the bid price in the market) for 500 and 1000 shares respectively. The market uses size priority as the secondary order precedence rule. A market order to sell 900 shares arrives to the market. How will this order execute against the two standing limit orders? 2. A commonly used benchmark used to calculate transactions cost is to use a measure of average trade price over the trading period. This is referred to as the: 3. A trader gets 2 orders from a fund manager. One order is for 10,000,000 shares of
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sample-midterm-1 - SAMPLE EXAM Disclaimer: While the format...

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