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21. In an underwritten offer, the risk of selling the issue at a price lower than that promised               to the issuer is borne by the investment bank.

 

22.In an underwritten offer, the investment bank is compensated based on the number of               securities sold.

 

23.Universal banks are financial institutions that are allowed to do only commercial banking               activities.

 

24.Investment Banks provide services for the direct financing in markets such as collecting               deposits and making business loans.

 

25. In 2008, Lehman Brothers filed bankruptcy and many investment banks receive the               bailout funds from the Treasury.  This means there is very limited career opportunities in               investment banking.

 

26. Financial Services Modernization Act of 1999 is to limit investment banks to engage any               commercial banking activities.

 

27. One of the major causes of financial crisis is the subprime mortgage loans that are               facilitated by investment banks. 

 

 

 

 

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