Essentials of Investments 11th Edition Bodie Test Bank

Essentials of Investments 11th Edition Bodie Test Bank

Product details:

• ISBN-10 ‏ : ‎ 1260013928
• ISBN-13 ‏ : ‎ 978-1260013924
• Author: Zvi Bodie

The market leading undergraduate investments textbook, Essentials of Investments by Bodie, Kane, and Marcus, emphasizes asset allocation while presenting the practical applications of investment theory. The authors have eliminated unnecessary mathematical detail and concentrate on the intuition and insights that will be useful to practitioners throughout their careers as new ideas and challenges emerge from the financial marketplace. The Eleventh Edition includes increased attention to changes in market structure and trading technology, while continuing to be organized around one basic theme – that security markets are nearly efficient.

Table contents:

Part ONE 
Elements of Investments 00
1 Investments: Background and Issues 00
1.1 Real Assets versus Financial Assets 00
1.2 A Taxonomy of Financial Assets
1.3	Financial Markets and the Economy
The Informational Role of Financial Markets 00
Consumption Timing 
Allocation of Risk
Separation of Ownership and Management
Corporate Governance and Corporate Ethics
1.4	The Investment Process
1.5	Markets Are Competitive
The Risk-Return Trade-Off
Efficient Markets
1.6	The Players
Financial Intermediaries
Investment Bankers
1.7	Recent Trends
Globalization
 Securitization
 Financial Engineering
 Computer Networks 
1.8	Outline of the Text
Summary
2 Asset Classes and Financial Instruments
2.1	The Money Market
Treasury Bills
Certificates of Deposit
Commercial Paper
Bankers? Acceptances
Eurodollars
Repos and Reverses
Brokers? Calls
Federal Funds
The LIBOR Market
Yields on Money Market Instruments
2.2	The Bond Market
Treasury Notes and Bonds
Inflation-Protected Treasury Bonds
Federal Agency Debt
International Bonds
Municipal Bonds
Corporate Bonds
Mortgages and Mortgage-Backed Securities
2.3	Equity Securities
Common Stock as Ownership Shares
Characteristics of Common Stock
Stock Market Listings
Preferred Stock
Depository Receipts
2.4	Stock and Bond Market Indexes
Stock Market Indexes
Dow Jones Averages
Standard & Poor?s Indexes
Other U.S. Market Value Indexes
Equally Weighted Indexes
Foreign and International Stock Market Indexes
Bond Market Indicators
2.5	Derivative Markets
Options
 Futures Contracts
Summary
3	Securities Markets
3.1	How Firms Issue Securities
Investment Banking
Shelf Registration
Private Placements
Initial Public Offerings
3.2	How Securities Are Traded
Types of Markets
Types of Orders
Trading Mechanisms
3.3 U.S. Securities Markets
Nasdaq
The New York Stock Exchange
Electronic Communication Networks
The National Market System
Bond Trading
3.4	 Market Structure in Other Countries
London
Euronext
Tokyo
Globalization and Consolidation of Stock Markets
3.5	 Trading Costs
3.6	 Buying on Margin
3.7	 Short Sales
3.8	 Regulation of Securities Markets
Self-Regulation
Regulatory Responses to Recent Scandals
Circuit Breakers
Insider Trading
Summary
4	 Mutual Funds and Other Investment Companies
4.1	 Investment Companies
4.2	 Types of Investment Companies
Unit Investment Trusts
Managed Investment Companies
Other Investment Organizations
4.3	 Mutual Funds
Investment Policies
How Funds Are Sold
4.4	 Costs of Investing in Mutual Funds
Fee Structure
Fees and Mutual Fund Returns
Late Trading and Market Timing
Other Potential Reforms
4.5	 Taxation of Mutual Fund Income
4.6	 Exchange-Traded Funds
4.7	 Mutual Fund Investment Performance: A First Look
4.8	 Information on Mutual Funds
Summary
Part TWO
Portfolio Theory
5	 Risk and Return: Past and Prologue
5.1	 Rates of Return
Measuring Investment Returns over Multiple Periods
Conventions for Quoting Rates of Return
5.2	 Risk and Risk Premiums
Scenario Analysis and Probability Distributions
Risk Premiums and Risk Aversion
The Sharpe (Reward-to-Volatility) Measure
5.3	 The Historical Record
Bills, Bonds, and Stocks, 1926?2006
5.4	 Inflation and Real Rates of Return
The Equilibrium Nominal Rate of Interest
5.5	 Asset Allocation across Risky and Risk-Free Portfolios
The Risky Asset
The Risk-Free Asset
Portfolio Expected Return and Risk
The Capital Allocation Line
Risk Tolerance and Asset Allocation
5.6	 Passive Strategies and the Capital Market Line
Historical Evidence on the Capital Market Line
Costs and Benefits of Passive Investing
Summary
6	 Efficient Diversification
6.1	 Diversification and Portfolio Risk
6.2	 Asset Allocation with Two Risky Assets
Covariance and Correlation
Using Historical Data
The Three Rules of Two-Risky-Assets Portfolios
The Risk-Return Trade-Off with Two-Risky-Assets Portfolios
The Mean-Variance Criterion
6.3	 The Optimal Risky Portfolio with a Risk-Free Asset
6.4	 Efficient Diversification with Many Risky Assets
The Efficient Frontier of Risky Assets
Choosing the Optimal Risky Portfolio
The Preferred Complete Portfolio and the Separation Property
6.5	 A Single-Factor Asset Market
Specification of a Single-Index Model of Security Returns
Statistical and Graphical Representation of the Single-Index Model
Diversification in a Single-Factor Security Market
6.6	 Risk of Long-Term Investments
 Are Stock Returns Less Risky in the Long Run?
 The Fly in the ?Time Diversification? Ointment (or More Accurately, 
the Snake Oil) 
Summary
7	 Capital Asset Pricing and Arbitrage Pricing Theory
7.1	 The Capital Asset Pricing Model
Why All Investors Would Hold the Market Portfolio
The Passive Strategy Is Efficient
The Risk Premium of the Market Portfolio
Expected Returns on Individual Securities
The Security Market Line
Applications of the CAPM
7.2	 The CAPM and Index Models
The Index Model, Realized Returns, and the Expected Return?
Beta Relationship
Estimating the Index Model
Predicting Betas
7.3	 The CAPM and the Real World
7.4	 Multifactor Models and the CAPM
The Fama-French Three-Factor Model
Factor Models with Macroeconomic Variables
Multifactor Models and the Validity of the CAPM
7.5	 Factor Models and the Arbitrage Pricing Theory
Well-Diversified Portfolios and Arbitrage Pricing Theory
The APT and the CAPM
Multifactor Generalization of the APT and CAPM
Summary
8	 The Efficient Market Hypothesis
8.1	 Random Walks and the Efficient Market Hypothesis
Competition as the Source of Efficiency
 Versions of the Efficient Market Hypothesis
8.2	 Implications of the EMH
Technical Analysis
Fundamental Analysis
Active versus Passive Portfolio Management
The Role of Portfolio Management in an Efficient Market
Resource Allocation
8.3	 Are Markets Efficient?
The Issues
Weak-Form Tests: Patterns in Stock Returns
Predictors of Broad Market Returns
Semistrong Tests: Market Anomalies
Strong-Form Tests: Inside Information
Interpreting the Evidence
The ?Noisy Market Hypothesis? and Fundamental Indexing
8.4	 Mutual Fund and Analyst Performance
Stock Market Analysts 
Mutual Fund Managers
Survivorship Bias in Mutual Fund Studies
So, Are Markets Efficient?
Summary
9	 Behavioral Finance and Technical Analysis
9.1	 The Behavioral Critique
 Information Processing
 Behavioral Biases
 Limits to Arbitrage
 Limits to Arbitrage and the Law of One Price
 Bubbles and Behavioral Economics
 Evaluating the Behavioral Critique
9.2	 Technical Analysis and Behavioral Finance
 Trends and Corrections 
 Sentiment Indicators
 A Warning
Summary
Part THREE
Debt Securities

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