A.The bank is insolvent in that the current value of its assets (measured at book value) is less than the value of its liabilities; thus even if the bank were to liquidate all of its assets it would not be able to repay all depositors and other creditors

B.The bank is legally solvent but if, because it cannot fund its operations, it is forced to liquidate assets it could do so only at less than nominal values (fire sale) and this would make it legally insolvent (value of assets falls below those of liabilities)

C.The bank is legally solvent but its current funding costs (which are likely to continue) exceed the average rate of return on its assets and hence it would soon become insolvent as it would be making losses and would eventually exhaust its equity capital

D.The bank is solvent in that the current value of its assets (measured at book value) is more than the value of its liabilities; so even if the bank were to liquidate all of its assets it would be able to repay all depositors and other creditors

A.Its' loan loss record was poor by industry standards.

B.The quality of its' assets was never in question.

C.Only a few months previously it had reported record profits.

D.For many years it was regarded as a star-performer in the financial markets.

A.Parliamentarian

B.Chair only

C.Vice Chair

D.Secretary

A.Greater volatility than expected over the life of an option

B.Both A and B

C.Sudden gaps in market prices

D.Neither A nor B

A.to sell calls and buy puts

B.to buy puts and sell calls

C.to buy calls and sell puts

D.to sell puts and buy calls