All of the following designations are used to clarify airline trips EXCEPT _______.

Which of the following statements are correct concerning the present value of $1.00 five years from today discounted at 5%?

I. The present value is equal to $1.00 divided by 1.05 to the 5th power. II. If the discount rate were less than 5%, the present value would be smaller. III. If the discount rate were more than 5%, the present value would be smaller. IV. If the $1.00 were to be received 6 years from today, the present value would be larger. A) I and II only B) I and III only C) II and III only D) I, III and IV only

Hedge funds are

A) low risk because they are market-neutral. B) low risk if they buy Treasury bonds. C) low risk because they hedge their investments. D) high risk because they are market-neutral. E) high risk, even though they may be market-neutral.