STC Series 66 Final 1 and 2 Questions
and Answers A+ Graded (2025)
A .client .purchases .an .equity-indexed .annuity .contract .that .guarantees .a .4%
.return .or .80% .of .the .performance .of .the .S&P .500, .whichever .is .greater. .The
.index .declines .over .the .course .of .the .next .year. .What .return .will . your .client
.receive? .- .CORRECT .ANSWER-4%
An .equity-indexed .annuity .guarantees .the .contract .owner .a .minimum .interest
.rate .or .the .performance .of .a .stock .index .such .as .the .S&P .500 . Index. .If .the
.return .on .this .index .is .less .than .the .guaranteed .rate, .the .owner .receives .the
.guaranteed .rate. .If .the .index .return .is .greater .than .the .guarantee, .the .owner
.receives .the .greater .return. .(62437)
The .investment .policy .statement .of .a .qualified .retirement .plan .states .that .no
.more .than .50% .of .the .plan's .assets .may .be .invested .in .stocks. .The .investment
.manager .places .65% .of .the .plan's .assets .in .stocks .in .order .to .take .advantage .of
.a .bull .market .and .increase .the . value .of .the .plan's .assets. .Has .the .investment
.manager . violated .the .fiduciary .responsibility .provisions .of .ERISA? .- .CORRECT
.ANSWER-Yes, .since .the .investment . manager .did .not .follow .the .stipulations .of
.the .investment .policy .statement
This .is .an .actual .court .case. .The .plan's .trustees .sued .the .investment .manager
.who .was .held .liable .even .though .the .plan's .assets .increased. .(62146)
All .of .the .following .choices .are .required .to .be .included .in .a .trade .blotter,
.EXCEPT: .- .CORRECT .ANSWER-The .amount .of .interest .or .dividends .the .investor
.will .receive
Broker-dealers .and .investment .advisers .are .required .to .keep .certain .books .and
.records. .One .of .them .is .a .blotter, .which .is .a .daily .record .of .all .purchases .and
.sales .of .securities. .The .trade .blotters .contain .information .concerning .the
.transaction .such .as .the .account .in .which . the .trade .was .executed, .the .trade .date,
.the .unit . value .and .total .value .of .the .transaction, .the .name .and .amount .of
.securities, .and .whom .the .securities .were .bought .from .or .sold .to. .Blotters .are
.also .required .when .a .firm . receives .or .delivers .securities .as .well .as .receives .or
.disburses .cash.
Under .the .Uniform .Securities .Act, .the .statute .of .limitations .for .criminal
.violations .of .the .Act .is: .- .CORRECT .ANSWER-Five .years
The .statute .of .limitations .for .criminal .violations .under .the .Act .is .five .years.
.(62943)
,A .small, .single-office .investment .advisory .firm .has .$4 .million .in .assets .under
.management. .The .firm .is .located .in .Texas. .According .to .the .Uniform .Securities
.Act, .which .of .the .following .persons .associated .with .the .firm .will .NOT .fall .under
.the .definition .of .an .investment .adviser .representative? .- .CORRECT .ANSWER-An
.in-house .accountant .who .tabulates .investment .results .for .client .accounts
IA .representatives .are .persons .who .are .associated .with .an .IA .and .make
.recommendations, .manage .accounts, .solicit .or .negotiate .the .sale .of .IA .services,
.or .supervise .any .persons .who .engage .in .these .activities. .Persons .who .perform
.clerical .functions .(e.g., .accountants) .are .not .considered .IA . representatives.
.There .is .no .requirement .for .a .person .to .be .an .employee .or .to .be .solely
.dedicated .to .sales .to .meet .the .definition .of .IA . representative.
Under .the .Securities .Exchange .Act, .a .customer .confirmation .is .NOT .required .to
.disclose: .- .CORRECT .ANSWER-The .time .of .the .trade .execution
The .Securities .Exchange .Act .requires .broker-dealers .to .make .specific
.disclosures .on .customer .confirmations. .Some .of .the .required .information
.includes .the .capacity .in .which .the .broker-dealer .is .acting .(i.e., .agency .or
.principal), .the .amount .of .commission .received .by .the .broker-dealer .for
.executing .an .agency .trade, .and .the .settlement .date .of .the .trade. .The .time .of .the
.trade .execution .is .not .required .to .be .disclosed .on .a .customer .confirmation;
.however, .it .may .be .provided .if .the .customer .makes .a .specific .request.
Under .the .Uniform .Securities .Act, .an .Administrator .may .deny .registration .to .an
.agent .because .of .findings .that .indicate .the .agent .had .been .convicted .of .a .felony
.within .the .past: .- .CORRECT .ANSWER-10 .years
The .Administrator .may .deny .an .agent's .registration .if .she .finds .the .individual
.has .been .convicted .of .a .felony .within .the . past .10 .years. .(62109)
NASAA's .Model .Rule .on .Unethical .Business .Practices .of .Investment .Advisers,
.Investment . Adviser .Representatives, .and .Federal .Covered .Advisers .states .that
.any .fee .arrangement .based .on .capital .gains .or .portfolio .appreciation .may .only
.be .used .if .which .of .the .following .disclosures .is .made .in .writing? .- .CORRECT
.ANSWER-That .the .arrangement .may .cause .the .adviser .to .recommend .strategies
.that .encourage .a .client .to .take .greater-than-normal . risks
As .opposed .to .other .fee .arrangements, .performance-based .fees .are .more .likely
.to .encourage .an .adviser .to .take .greater .risks .with .a .client's .money .in .order .to
.generate .more .fees. .While .performance-based .fees .are .generally .prohibited
.under .the .Uniform . Securities .Act, .some .state .Administrators .make .exceptions.
.(67684)
Susan .is .a .high-ranking .official .in .the .Comptroller's .Office .of .Zanzibar
.Securities. .Her .title .is .Executive .Vice .President. .Under .the .Uniform . Securities
.Act, .Susan .is: .- .CORRECT .ANSWER-Not .considered .an .agent .since .she .is .not
.involved .in .sales .or .trading
Only .personnel .engaged .in .securities .transactions .are .agents. .Officers .can .be
.considered .agents, .but .it .depends .on .their .particular .job .function. .(79474)
,Which .of .the .following .securities .is .NOT .considered .exempt .under .the .Uniform
.Securities .Act? .- .CORRECT .ANSWER-Securities .issued .by .an .automobile
.company
Under .the .Uniform .Securities .Act, .any .security .issued .by .Canada .or .a .Canadian
.Province, .or .savings .and .loan .association, .or .any .railroad .company .is
.considered .an .exempt .security. .There .is .an .exemption .under .the . Act .for
.common .carriers .but .an .automobile .company .does .not .qualify .for .this
.exemption. .(
Value .investors .would .be .interested .in .companies .that .have .- .CORRECT
.ANSWER-Low .price .earnings .ratios
Value .investing .is .a .method .of .identifying .securities .that .are .undervalued .based
.on .company .fundamentals. .Value .stocks .tend .to .have .low .stock .prices .in
.relationship .to .their .earnings, .a .higher .dividend .yield .than .their .industry .peers,
.and, .typically, .trade .at .a .price .closer .to .or .at .a .discount .to .the .book .value .than
.their .competitors. .Value .investors .believe .that .the .most .undervalued .companies
.should .rebound .and .outperform .the .market. .This, .of .course, .assumes .that .the
.company .is .financially .sound. .(63012)
As .an .investment .adviser, .you .are .required .to .record .and .keep .a .record .of .every
.transaction .in .a .security .for .a .client's .account .within: .- .CORRECT .ANSWER-10
.days .of .the .end .of .each .quarter, .excluding .direct .obligations .of .the .U.S.
.government
Under .both .the .Investment .Advisers .Act .and .the .Uniform .Securities .Act,
.investment .advisers .are .required .to .keep .a .record .of .every .securities
.transaction .within .10 .days .of .the .end .of .the .quarter .in .which .the .transaction
.took .place. .Transactions .in .direct .obligations .of .the .U.S. .government .are
.excluded .from .this .requirement.
What .is .the .benefit .of .discounting .the .cash .flows .of .a .fixed-income .security? .-
.CORRECT .ANSWER-It .compares .the .price .of .a .bond .against .the .sum .of .the
.present .values .of .the .bond's .future .payouts
A .discounted .cash .flow .evaluates .each .coupon .payment .and .the .repayment .of .a
.bond's .principal .at .a .present .value, .based .on .a .rate .of .return. .This .makes .it
.possible .to .evaluate .a .bond's .value .against .the .investor's .desired .rate .of .return.
.The .sum .of .each .of .the .discounted .cash .flows, .plus .the .present .value .of .the
.bond's .principal, .determines .the .total .value .of .the .bond. .By .comparing .this
.value .to .the .current .price .of .the .bond, .the .adviser .will .be .able .to .determine .if .the
.bond .is .an .attractive .investment .for .a .client.
Based .on .the .past .performance .of .XYZ .stock, .an .investment .adviser .has
.determined .that .there .is .a .25% .chance .that .in .a .bull .market, .XYZ .stock .will
.return .20%. . In .a .flat .market .(50% .probability), .the .return .should .be .5%. .The
.likelihood .of .a .bear .market .is .25%, .and .expected .returns .would .be .a .loss .of
.10%. .What .is .the .expected .return .for .XYZ . stock? .- .CORRECT .ANSWER-5%
According .to .modern .portfolio .theory, .the .expected .return .is .the .sum .of .the
.weighted .average .of .an .investment's .return. .To .find .each .weighted .return,
.multiply .the . return .by .the .likelihood .of .that .return. .For .XYZ .stock, .the .expected
.return .is .as .follows.
, Return
Likelihood
Weighted .Return20%x25%=5%5%x50%=2.5%(10%)x25%=(2.5%)
Expected .return .= .5% .(5% .+ .2.5% .- .2.5%)
Your .client .is .considering .purchasing .a .fund .of .hedge .funds. .Which .of .the
.following .statements .concerning .this .investment .is .TRUE? .- .CORRECT
.ANSWER-These .securities .are .not .liquid .investments
A .fund .of .hedge .funds .is .a .mutual .fund .that .invests .in .unregistered, .private
.hedge .funds. .Although . hedge .funds .are .not .required .to .register .with .the .SEC,
.funds .of .hedge .funds .typically .do .not .have .this .exemption .available .to .them.
.Since .funds .of .funds .are .invested .in .illiquid .securities, .hedge .funds, .they .do .not
.typically .offer .investors .the .opportunity .to .sell .on .a .daily .basis. .(Traditional
.mutual .funds .offer .this .feature.) .Liquidity .means .an .investor .can .efficiently .sell
.or .convert . her .investment .into .cash.
Which .of .the .following .is/are .regulated .under .the .Investment .Company .Act .of
.1940?
Investment .companies .investing .money .into .other .investment .companies
The .firm .that .serves .as .a .mutual .fund's .custodian .and .holds .its .assets
The .minimum .rate .of .return .required .to .remain .registered .as .a .fund
The .performance .of .the .investment .company .- .CORRECT .ANSWER-I .and .II .only
The .Investment .Company .Act .of .1940 .regulates .investment .companies, .their
.investment .advisers, .custodian .banks, .and .distributors. .The .Investment
.Company . Act .of .1940 .does .not .regulate .performance .and .it .does .not .require
.minimum .rates .of .return .in .order .to .maintain .registration. .(32401)
Which .types .of .investments .have .historically .shown .a .great .deal .of .exposure .to
.regulatory .risk? .- .CORRECT .ANSWER-Limited .partnerships
Regulatory .risk .is .the .possibility .that .changes .in .the .law .or .regulations .can .have
.an .adverse .impact .on .the .value .of .investments. .Although .all .kinds .of
.investments .can .be .subject .to .regulatory .risk, .limited .partnerships .have
.historically .been .particularly . vulnerable. .For .example, .adverse .changes .in .the
.tax .laws .in .1986 .caused .the .value .of .many .limited .partnerships .to .drop. .(62016)
A .limited .partnership .would .be .the .least .suitable .for .which .of .the .following
.investors? .- .CORRECT .ANSWER-A .widower .investing .the .proceeds .of .his
.deceased .spouse's .life .insurance .policy, .whose .main .objectives .are .current
.income .and .capital .preservation
A .limited .partnership .may .not .be .a .suitable .investment .for .any .of .these
.individuals. .The .use .of .insurance .proceeds .are .definitely .the .least .suitable
.based .on .his .circumstances .and .investment .objectives. .(32451)
If .an .adviser .wanted .to .determine .a .company's .ability .to .pay .debts .that .would .be
.maturing .in .one . year, .the .adviser .would .be .most .interested .in .the: .- .CORRECT
.ANSWER-Current .ratio
and Answers A+ Graded (2025)
A .client .purchases .an .equity-indexed .annuity .contract .that .guarantees .a .4%
.return .or .80% .of .the .performance .of .the .S&P .500, .whichever .is .greater. .The
.index .declines .over .the .course .of .the .next .year. .What .return .will . your .client
.receive? .- .CORRECT .ANSWER-4%
An .equity-indexed .annuity .guarantees .the .contract .owner .a .minimum .interest
.rate .or .the .performance .of .a .stock .index .such .as .the .S&P .500 . Index. .If .the
.return .on .this .index .is .less .than .the .guaranteed .rate, .the .owner .receives .the
.guaranteed .rate. .If .the .index .return .is .greater .than .the .guarantee, .the .owner
.receives .the .greater .return. .(62437)
The .investment .policy .statement .of .a .qualified .retirement .plan .states .that .no
.more .than .50% .of .the .plan's .assets .may .be .invested .in .stocks. .The .investment
.manager .places .65% .of .the .plan's .assets .in .stocks .in .order .to .take .advantage .of
.a .bull .market .and .increase .the . value .of .the .plan's .assets. .Has .the .investment
.manager . violated .the .fiduciary .responsibility .provisions .of .ERISA? .- .CORRECT
.ANSWER-Yes, .since .the .investment . manager .did .not .follow .the .stipulations .of
.the .investment .policy .statement
This .is .an .actual .court .case. .The .plan's .trustees .sued .the .investment .manager
.who .was .held .liable .even .though .the .plan's .assets .increased. .(62146)
All .of .the .following .choices .are .required .to .be .included .in .a .trade .blotter,
.EXCEPT: .- .CORRECT .ANSWER-The .amount .of .interest .or .dividends .the .investor
.will .receive
Broker-dealers .and .investment .advisers .are .required .to .keep .certain .books .and
.records. .One .of .them .is .a .blotter, .which .is .a .daily .record .of .all .purchases .and
.sales .of .securities. .The .trade .blotters .contain .information .concerning .the
.transaction .such .as .the .account .in .which . the .trade .was .executed, .the .trade .date,
.the .unit . value .and .total .value .of .the .transaction, .the .name .and .amount .of
.securities, .and .whom .the .securities .were .bought .from .or .sold .to. .Blotters .are
.also .required .when .a .firm . receives .or .delivers .securities .as .well .as .receives .or
.disburses .cash.
Under .the .Uniform .Securities .Act, .the .statute .of .limitations .for .criminal
.violations .of .the .Act .is: .- .CORRECT .ANSWER-Five .years
The .statute .of .limitations .for .criminal .violations .under .the .Act .is .five .years.
.(62943)
,A .small, .single-office .investment .advisory .firm .has .$4 .million .in .assets .under
.management. .The .firm .is .located .in .Texas. .According .to .the .Uniform .Securities
.Act, .which .of .the .following .persons .associated .with .the .firm .will .NOT .fall .under
.the .definition .of .an .investment .adviser .representative? .- .CORRECT .ANSWER-An
.in-house .accountant .who .tabulates .investment .results .for .client .accounts
IA .representatives .are .persons .who .are .associated .with .an .IA .and .make
.recommendations, .manage .accounts, .solicit .or .negotiate .the .sale .of .IA .services,
.or .supervise .any .persons .who .engage .in .these .activities. .Persons .who .perform
.clerical .functions .(e.g., .accountants) .are .not .considered .IA . representatives.
.There .is .no .requirement .for .a .person .to .be .an .employee .or .to .be .solely
.dedicated .to .sales .to .meet .the .definition .of .IA . representative.
Under .the .Securities .Exchange .Act, .a .customer .confirmation .is .NOT .required .to
.disclose: .- .CORRECT .ANSWER-The .time .of .the .trade .execution
The .Securities .Exchange .Act .requires .broker-dealers .to .make .specific
.disclosures .on .customer .confirmations. .Some .of .the .required .information
.includes .the .capacity .in .which .the .broker-dealer .is .acting .(i.e., .agency .or
.principal), .the .amount .of .commission .received .by .the .broker-dealer .for
.executing .an .agency .trade, .and .the .settlement .date .of .the .trade. .The .time .of .the
.trade .execution .is .not .required .to .be .disclosed .on .a .customer .confirmation;
.however, .it .may .be .provided .if .the .customer .makes .a .specific .request.
Under .the .Uniform .Securities .Act, .an .Administrator .may .deny .registration .to .an
.agent .because .of .findings .that .indicate .the .agent .had .been .convicted .of .a .felony
.within .the .past: .- .CORRECT .ANSWER-10 .years
The .Administrator .may .deny .an .agent's .registration .if .she .finds .the .individual
.has .been .convicted .of .a .felony .within .the . past .10 .years. .(62109)
NASAA's .Model .Rule .on .Unethical .Business .Practices .of .Investment .Advisers,
.Investment . Adviser .Representatives, .and .Federal .Covered .Advisers .states .that
.any .fee .arrangement .based .on .capital .gains .or .portfolio .appreciation .may .only
.be .used .if .which .of .the .following .disclosures .is .made .in .writing? .- .CORRECT
.ANSWER-That .the .arrangement .may .cause .the .adviser .to .recommend .strategies
.that .encourage .a .client .to .take .greater-than-normal . risks
As .opposed .to .other .fee .arrangements, .performance-based .fees .are .more .likely
.to .encourage .an .adviser .to .take .greater .risks .with .a .client's .money .in .order .to
.generate .more .fees. .While .performance-based .fees .are .generally .prohibited
.under .the .Uniform . Securities .Act, .some .state .Administrators .make .exceptions.
.(67684)
Susan .is .a .high-ranking .official .in .the .Comptroller's .Office .of .Zanzibar
.Securities. .Her .title .is .Executive .Vice .President. .Under .the .Uniform . Securities
.Act, .Susan .is: .- .CORRECT .ANSWER-Not .considered .an .agent .since .she .is .not
.involved .in .sales .or .trading
Only .personnel .engaged .in .securities .transactions .are .agents. .Officers .can .be
.considered .agents, .but .it .depends .on .their .particular .job .function. .(79474)
,Which .of .the .following .securities .is .NOT .considered .exempt .under .the .Uniform
.Securities .Act? .- .CORRECT .ANSWER-Securities .issued .by .an .automobile
.company
Under .the .Uniform .Securities .Act, .any .security .issued .by .Canada .or .a .Canadian
.Province, .or .savings .and .loan .association, .or .any .railroad .company .is
.considered .an .exempt .security. .There .is .an .exemption .under .the . Act .for
.common .carriers .but .an .automobile .company .does .not .qualify .for .this
.exemption. .(
Value .investors .would .be .interested .in .companies .that .have .- .CORRECT
.ANSWER-Low .price .earnings .ratios
Value .investing .is .a .method .of .identifying .securities .that .are .undervalued .based
.on .company .fundamentals. .Value .stocks .tend .to .have .low .stock .prices .in
.relationship .to .their .earnings, .a .higher .dividend .yield .than .their .industry .peers,
.and, .typically, .trade .at .a .price .closer .to .or .at .a .discount .to .the .book .value .than
.their .competitors. .Value .investors .believe .that .the .most .undervalued .companies
.should .rebound .and .outperform .the .market. .This, .of .course, .assumes .that .the
.company .is .financially .sound. .(63012)
As .an .investment .adviser, .you .are .required .to .record .and .keep .a .record .of .every
.transaction .in .a .security .for .a .client's .account .within: .- .CORRECT .ANSWER-10
.days .of .the .end .of .each .quarter, .excluding .direct .obligations .of .the .U.S.
.government
Under .both .the .Investment .Advisers .Act .and .the .Uniform .Securities .Act,
.investment .advisers .are .required .to .keep .a .record .of .every .securities
.transaction .within .10 .days .of .the .end .of .the .quarter .in .which .the .transaction
.took .place. .Transactions .in .direct .obligations .of .the .U.S. .government .are
.excluded .from .this .requirement.
What .is .the .benefit .of .discounting .the .cash .flows .of .a .fixed-income .security? .-
.CORRECT .ANSWER-It .compares .the .price .of .a .bond .against .the .sum .of .the
.present .values .of .the .bond's .future .payouts
A .discounted .cash .flow .evaluates .each .coupon .payment .and .the .repayment .of .a
.bond's .principal .at .a .present .value, .based .on .a .rate .of .return. .This .makes .it
.possible .to .evaluate .a .bond's .value .against .the .investor's .desired .rate .of .return.
.The .sum .of .each .of .the .discounted .cash .flows, .plus .the .present .value .of .the
.bond's .principal, .determines .the .total .value .of .the .bond. .By .comparing .this
.value .to .the .current .price .of .the .bond, .the .adviser .will .be .able .to .determine .if .the
.bond .is .an .attractive .investment .for .a .client.
Based .on .the .past .performance .of .XYZ .stock, .an .investment .adviser .has
.determined .that .there .is .a .25% .chance .that .in .a .bull .market, .XYZ .stock .will
.return .20%. . In .a .flat .market .(50% .probability), .the .return .should .be .5%. .The
.likelihood .of .a .bear .market .is .25%, .and .expected .returns .would .be .a .loss .of
.10%. .What .is .the .expected .return .for .XYZ . stock? .- .CORRECT .ANSWER-5%
According .to .modern .portfolio .theory, .the .expected .return .is .the .sum .of .the
.weighted .average .of .an .investment's .return. .To .find .each .weighted .return,
.multiply .the . return .by .the .likelihood .of .that .return. .For .XYZ .stock, .the .expected
.return .is .as .follows.
, Return
Likelihood
Weighted .Return20%x25%=5%5%x50%=2.5%(10%)x25%=(2.5%)
Expected .return .= .5% .(5% .+ .2.5% .- .2.5%)
Your .client .is .considering .purchasing .a .fund .of .hedge .funds. .Which .of .the
.following .statements .concerning .this .investment .is .TRUE? .- .CORRECT
.ANSWER-These .securities .are .not .liquid .investments
A .fund .of .hedge .funds .is .a .mutual .fund .that .invests .in .unregistered, .private
.hedge .funds. .Although . hedge .funds .are .not .required .to .register .with .the .SEC,
.funds .of .hedge .funds .typically .do .not .have .this .exemption .available .to .them.
.Since .funds .of .funds .are .invested .in .illiquid .securities, .hedge .funds, .they .do .not
.typically .offer .investors .the .opportunity .to .sell .on .a .daily .basis. .(Traditional
.mutual .funds .offer .this .feature.) .Liquidity .means .an .investor .can .efficiently .sell
.or .convert . her .investment .into .cash.
Which .of .the .following .is/are .regulated .under .the .Investment .Company .Act .of
.1940?
Investment .companies .investing .money .into .other .investment .companies
The .firm .that .serves .as .a .mutual .fund's .custodian .and .holds .its .assets
The .minimum .rate .of .return .required .to .remain .registered .as .a .fund
The .performance .of .the .investment .company .- .CORRECT .ANSWER-I .and .II .only
The .Investment .Company .Act .of .1940 .regulates .investment .companies, .their
.investment .advisers, .custodian .banks, .and .distributors. .The .Investment
.Company . Act .of .1940 .does .not .regulate .performance .and .it .does .not .require
.minimum .rates .of .return .in .order .to .maintain .registration. .(32401)
Which .types .of .investments .have .historically .shown .a .great .deal .of .exposure .to
.regulatory .risk? .- .CORRECT .ANSWER-Limited .partnerships
Regulatory .risk .is .the .possibility .that .changes .in .the .law .or .regulations .can .have
.an .adverse .impact .on .the .value .of .investments. .Although .all .kinds .of
.investments .can .be .subject .to .regulatory .risk, .limited .partnerships .have
.historically .been .particularly . vulnerable. .For .example, .adverse .changes .in .the
.tax .laws .in .1986 .caused .the .value .of .many .limited .partnerships .to .drop. .(62016)
A .limited .partnership .would .be .the .least .suitable .for .which .of .the .following
.investors? .- .CORRECT .ANSWER-A .widower .investing .the .proceeds .of .his
.deceased .spouse's .life .insurance .policy, .whose .main .objectives .are .current
.income .and .capital .preservation
A .limited .partnership .may .not .be .a .suitable .investment .for .any .of .these
.individuals. .The .use .of .insurance .proceeds .are .definitely .the .least .suitable
.based .on .his .circumstances .and .investment .objectives. .(32451)
If .an .adviser .wanted .to .determine .a .company's .ability .to .pay .debts .that .would .be
.maturing .in .one . year, .the .adviser .would .be .most .interested .in .the: .- .CORRECT
.ANSWER-Current .ratio
