Agency problems occur between

_______ risk is associated with the market and this _______ affected by diversifying your portfolio.

Operating leverage is caused by a firm using ______ since this causes a ______ cost. 

Earlier this year, you had to make a decision to buy a stock and it is now the end of the year. You know that the stock that was under consideration at the beginning of the year had an expected return of 12% at the time of purchase. You estimated the required return of the stock to be 10%. You have now calculated the realized return of the stock to be 14%. At the beginning of the year, you made a purchase decision by comparing ________ returns. Based on these returns, your initial decision was a ________ decision.

A stock that is more risky than the market will have a beta of ________. A stock that is less risky than the market will have a beta of ________.

Risk is best described by the word ______.  

Transactions between investors occur in ________ markets while transactions between a firm and an investor occurs in ________ markets.

The value of any asset is best described as its

The value of a current cash flow in the future is its ______ and is found by the process of ______

When a bond is first issued, which of the following is fixed for the life of the bond?