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1
1. public offerings of debt and equity to the public must be accompanied by a ________, which must be lodged with ASIC
Select one:
a. Balance sheet
b. Statement of capital structure
c. Statement of cash flows
d. Prospectus
2.Consider a quote from a 2016 academic working paper entitled "Multifaceted Aid for Low-Income Students and College Outcomes: Evidence from North Carolina." The quote is: "Launched in 2004, the Carolina Covenant combines grant-heavy financial aid with an array of non-financial supports for low-income students at an elite public university. We find that the program increased four-year graduation rates by about 8 percentage points for eligible students in the cohorts who experienced the fully developed program." Suppose the graduation rate for eligible students had been 32 percent before the program. Fill in the blank for this alternate conclusion: "We find that the program increased four-year graduation rates by about _-_- percent for eligible students in the cohorts who experienced the fully developed program." (Record your answer as an integer.)
3. Trust is a vehicle that provides group health insurance benefits. What is the purpose of a MET? To provide disability income insurance to covered employees To allow employers in common employments to band together to receive group health benefits To permit small companies to contribute to approved pension plans To provide group health insurance to eligible employees during a conversion period
Expert Solution
1.
By law, public offerings of debt and equity to the public must be accompanied by a prospectus, which must be lodged with ASIC.
As a general rule, if you are a public company offering securities for sale (for example, shares or debentures) then you must provide a disclosure document to potential investors.
A disclosure document is the broad term used to describe all regulated fundraising documents for the issue of securities.
There are four types of disclosure document:
- a prospectus
- an offer information statement
- a profile statement, and
- a two-part simple corporate bonds prospectus.
2.
There is a difference between percentage and percentage point.
Percentage point is the arithematic addition or reduction to the percentage. For example, in this case when it is quoted that the four-year graduation rates increased by about 8 percentage points. It means that the rates went from 32 to 40 percent.
While in the question, it is asked to determine the percentage increase, which indicates a ratio.
We can calculate this percentage increase as follows,
Let us assume the percentage to be x,
Thus, 32+32x/100 = 40
This implies that, 32x/100= 8
x = 8*100/32
x= 25
This means that while the four year graduation rates increase by 8 percentage points, it increased by 25%.
We find that the program increased four year graduation rates by about 25 percent for eligible students in the cohorts who experienced the fully developed program.
3.
Multiple Employer Trust(MET) : It is a group of ten or more employers who form this trust in order to minimize tax implications to provide certain types of benefits to their employees.
It is a more tax-friendly way to provide life insurance benefits to their employees.
Therefore, it enables employers in common employments to band together to receive group health benefits.
Hence, Option(b) is correct.
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