Dividends are taxed:

At the investor’s marginal income tax rate.
At a maximum rate of 15%.
Only when the stock is sold.
Dividends are never taxed.

A benchmark asset, commonly considered by investors to be risk-free:

Treasury Bill (T-Bill).
Share of preferred stock.
A Eurobond
A junk bond.

A stock certificate:

Is always issued to the individual investor.
Represents a primary claim on the firm’s assets.
Represents ownership in a corporation.
Is handwritten.

If you call your broker to purchase a "round lot" you are:

Buying a mutual fund of 100 different stocks.
Authorizing him/her to decide how many shares to buy.
Negotiating commissions on future purchases and sales.
Purchasing 100 shares of a specific stock.

Variable life insurance:

Offers tax deferral.
May provide higher return potential and greater risk than a whole life policy.
Allows you to invest a portion of the premium in various subaccounts.
All of the above.

Beta is commonly used as a relative measure of risk. It measures:

Standard deviation of a stock’s price.
The expected total returns of a diversified portfolio.
The unsystematic risk component of an investment.
The risk of a security or portfolio relative to the overall market.

Buying on margin::

Precludes the advantage of using leverage.
Is not affected by limits on borrowing established by ERISA.
Minimizes losses if the price of a security declines.
Is possible by borrowing from a broker.

The astute investor is aware that:

Investment risk is limited to the fortunes of the specific security purchased.
Computers make investment decisions scientific and eliminate much of the risk.
Actual outcome of any investment may differ from the expected outcome.
When trading on-line, brokerage commissions are always negotiable.