1. What are the major types of depository institutions, and what roles do they play in financial markets?
2. What service does a stockbroker offer? Briefly describe the difference between a full service broker and a discount broker.
3. A put option with an exercise proce of $60 was priced at $3. At expiration, the underlying stock is selling for $64. If you wrote this put for $3, your profit or loss at expiration would be what?