The Day with the Smallest Number of Daylight Hours Over

question 92

Multiple Choice

The day with the smallest number of daylight hours over the course of the year for a person living in the Northern Hemisphere is the:

• A) summer solstice (June 1)
• B) vernal equinox (March 21)
• C) winter solstice (Dec. 22)
• D) autumnal equinox (Sept. 23)
• E) The number of daylight hours is always the same.

---

Definitions:

Gross Spread

The difference between the underwriting expense of a security and the amount received from the selling group.

Offering Price

The price at which new shares are offered to the public by an issuer or by shareholders of the company.

Initial Public Offering (IPO)

The process by which a private company offers its shares to the public for the first time, becoming a publicly traded company.

Underwriters

Professionals or entities that evaluate and assume the risk of another party, often in the context of issuing insurance policies or underwriting securities in financial markets.