Use the Information for the Question(s) Below

question 66

Multiple Choice

Use the information for the question(s) below.
An exchange traded fund (ETF) is a security that represents a portfolio of individual stocks. Consider an ETF for which each share represents a portfolio of two shares of International Business Machines (IBM) , three shares of Merck (MRK) , and three shares of Citigroup Inc. (C) . Suppose the current market price of each individual stock are shown below:

-An American Depository Receipt (ADR) is a security issued by a U.S.bank and traded on a U.S.stock exchange that represents a specific number of shares of a foreign stock.Siemens AG has an ADR that trades on the NYSE and is equivalent to one share of Seimens AG trading on the Frankfurt Stock Exchange in Germany.If Seimans trades for $95.19 on the NYSE and for €64.10 on the Frankfurt Stock Exchange,then under the law of one price,the current exchange rate is closest to:

• A) $0.6744/€
• B) €0.6744/$
• C) €1.4850/$
• D) $1.5274/€

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Definitions:

Fentanyl Transdermal

A powerful opioid pain medication administered through a patch applied to the skin, providing continuous pain relief over a set period.

Morphine Sulfate

A specific chemical formulation of morphine used as a strong pain reliever in the form of tablets or injections.

Hydromorphone

A potent opioid analgesic medication used to treat moderate to severe pain by acting on the central nervous system.

Spinal Cord Injury

Damage to the spinal cord that results in a loss of function such as mobility or sensation below the site of the injury.