1. Identify the basic types of securities markets and describe their characteristics; describe broker markets and dealer markets and discuss how they differ from alternative trading systems?
2. A project requires investing $1 million today. It is expected to then generate positive cash flows for the next 10 years, after which it will end with no other cash flows. The required return on this project is 22.0%. You calculate its IRR to be 17.5%. What is this project's NPV?