28 Jun BUSINESS EQUITY BY A CORPORATION
Business equity by a corporation
1. A public offering of equity by a corporation that has previously issued securities to the public is called
a(n)
a) share repurchase program.
i b) shelf registration filing.
c) private placement.
(1) seasoned equity offering (SEO).
e) initial public offering (IPO).
2. Please fill in the blank. The type of underwriting where a syndicate buys the entire issue from the
issuing firm and assumes full financial responsibility for any unsold shares, is called a offering.
a) best efforts
b) shelf
c) direct rights
d) private placement
e) firm commitment
3. Please fill in the blank. The first day that a stock trades in the market without a recently declared right
attached to the stock is called the
a) pre-issue date.
b) afiermarket.
c) declaration date.
d) holder-of-record date.
e) ex-rights date.
4. You buy 15 wheat futures contracts when the futures price is $2.61 per bushel (each contract is for
5,000 bushels). The price on the maturity date is $2.21. What is your payoff?
a) -$30,000
b) -$2,000
c) $0
d) $2,000
e) $30,000
Use the following information to answer the next 4 (FOUR) questions.
Orange Juice (CTN) 15,000 lbs.; cents per lb. May 12, 2009
Qgem fiigh Loy Settle Change Lifetime Lifetime Qmn
fligh L_o_vg lnterest
July 74.90 82.30 74.90 82.20 +6.80 128.50 73.00 17,832
Sept 77.50 83.00 77.50 83.00 +5.00 121.30 77.10 6,379
Nov 80.50 85.75 80.50 85.75 +5.00 113.25 79.80 3,149
Jan2010 83.50 88.00 83.00 88.50 +5.00 119.75 82.75 1,397
5. Suppose you are interested in purchasing the September futures contract. What is the futures price of
15,000 lbs. of orangejuice for September delivery at the close of trading based on the above quote?
a) $1 1,625
b) $12,330
c) $12,450
d) $13,863
e) $13,275
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