What is the primary purpose of a securities exchange? What does NASDAQ stand for? How does this exchange work? Name at least two advantages and disadvantages of a company’s issuing stock as a form of equity financing. What are the major differences between common stock and preferred stock? Why are bonds considered a form of debt financing? What does it mean if a firm issues a 9% debenture bond due in 2025? Explain the difference between an unsecured and secured bond. Why are convertible bonds attractive to investors? What is the key advantage of investing through online brokers? What is the key disadvantage? What is the primary purpose of diversifying investments? What is a stock split? Why do companies sometimes split their stock? What does buying stock on margin mean? What are mutual funds and ETFs? What is the key benefit to investors in investing in a mutual fund or ETF? What does the Dow Jones Industrial Average measure? Why is it important? Why do the 30 companies comprising the Dow change periodically? Explain program trading and the problems it can create.