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NEW QUESTION: 1
"Old woman," grumbled the burly white man who had just heard Sojourner Truth speak, "do you think your
talk about slavery does any good? I don't care any more for your talk than I do for the bite of a flea." The
tall, imposing black woman turned her piercing eyes on him. "Perhaps not," she answered, "but I'll keep
you scratching." The little incident of the 1840s sums up all that Sojourner Truth was: utterly dedicated to
spreading her message, afraid of no one, forceful and witty in speech. Yet forty years earlier, who could
have suspected that a spindly slave girl growing up in a damp cellar in upstate New York would become
one of the most remarkable women in American history? Her name then was Isabella (many slaves had
no last names), and by the time she was fourteen she had seen both parents die of cold and hunger. She
herself had been sold several times. By 1827, when New York freed its slaves, she had married and
borne five children. The first hint of Isabella's fighting spirit came soon afterwards, when her youngest son
was illegally seized and sold. She marched to the courthouse and badgered officials until her son was
returned to her. In 1843, inspired by religion, she changed her name to Sojourner (meaning "one who
stays briefly") Truth, and, with only pennies in her purse, set out to preach against slavery. From New
England to Minnesota she trekked, gaining a reputation for her plain but powerful and moving words.
Incredibly, despite being black and female (only white males were expected to be public speakers), she
drew thousands to town halls, tents, and churches to hear her powerful, deep-voiced pleas on equality for
blacks-and for women. Often she had to face threatening hoodlums. Once she stood before armed bullies
and sang a hymn to them. Awed by her courage and her commanding presence, they sheepishly
retreated. During the Civil War she cared for homeless ex-slaves in Washington. President Lincoln invited
her to the White House to bestow praise on her. Later, she petitioned Congress to help former slaves get
land in the West. Even in her old age, she forced the city of Washington to integrate its trolley cars so that
black and white could ride together. Shortly before her death at eighty-six, she was asked what kept her
going. "I think of the great things," replied Sojourner.
When New York freed its slaves, Isabella had-
A. problems
B. three children
C. no children
D. five children
E. an education
Answer: D
NEW QUESTION: 2
Which of the following is not a feature of Cisco ONE software?
A. License portability and fleibility
B. Software license tied to hardware
C. Simple set of solutions in networks and cloud
D. Access to innovation, upgrades and new capabilities
Answer: C
NEW QUESTION: 3
An asset manager holds an equity portfolio valued at $25m with a beta of 0.8. She would like to reduce the beta of the portfolio to 0.6 for the next 3 months using index futures. Index futures are curently trading at
1450, and the contract multiple is 250. How should the asset manager trade the index futures to get his desired result? Assume her portfolio is well diversified.
A. Sell 14 index futures contracts
B. Sell 35 index futures contracts
C. Sell 55 index futures contracts
D. Buy 25 index futures contracts
Answer: A
Explanation:
Explanation
The portfolio's beta is 0.8, and therefore in order to completely hedge the portfolio (ie reduce beta to 0), the portfolio manager would need to short 0.8 * $25m/(1450*$250) = 55.17 contracts, or 55 contracts. However, the ask here is to reduce the beta to 0.6, and not 0.
The number of contracts required to reduce the beta of a portfolio from to is give by (- ) * Value of portfolio / Value of a single contract. In this case, this calculation works out to (0.8 - 0.6) * $25m/(1450*250) = 13.8, or roughly 14 contracts.
The portfolio manager should short 14 index futures contracts to reduce the total portfolio beta to 0.6.
NEW QUESTION: 4
An organization is projecting sales of 100,000 units, at a unit price of $12. Unit variable
costs are $7. If fixed costs are $350,000, what is the projected total contribution margin?
A. $500,000
B. $350,000
C. $850,000
D. $1,200,000
Answer: A