A stock is valued at $55.00. The annual expected return is 12.0% and the standard deviation of annualized returns is 22.0%. If the stock is lognormally distributed, what is the expected median stock price after 3 years?

Company leaders that are not satisfied with the ruling of the full Federal Trade Commission (FTC) can appeal to the U.S. Court of Appeals. The danger in appealing to the Court of Appeals is:

A) the company does not have the opportunity to present oral arguments B) the cease and desist orders are normally upheld C) a company may be ordered to pay civil penalties D) the decision is not binding

Which of the following is an illegal sales technique?

A) atmospherics B) a party plan system C) a multilevel network D) a pyramid scheme E) off-price retailing