1. What is the difference between top-down and bottom-up as an approach to security valuation and selection?
A. Top-down is always a better choice for investors who are fiduciaries.
B. Top-down begins with global and macro analysis and ten moves toward a specific industry and then a specific company.
C. Top-down and bottom-up and roughly equivalent in their strategies.
D. Bottom-up begins with global and macro analysis and ten moves toward a specific industry and then a specific company.
2. How are options different from stocks?
A. Stocks do not confer voting rights
B. There is a limit to the number of options that can be traded on a company
C. Stocks have a flexible number of shares outstanding.
D. Options have expiration dates