First Measure of Knowledge1. Describe the current financial environment. How have brokers, traders, investment bankers, and corporations adapted to current financial conditions?2. Describe and define the major USA financial markets. How has our system of capitalism contributed to their development? Identify some major players in those markets.3. Why are accounting and financial statements so emphasized in finance? What is the purpose of this part of the financial industry?4. Compare a couple of industries’ income statements and balance sheets. Point out some differences in the liabilities of a bank and a mining firm, for example. In which industries do inventory and inventory management matter more? Discuss capital intensive versus labor intensive industries. Where does intellectual capital play its part?5. Explain the value of the DuPont equation and its summary ratio analysis.6. What does the yield curve depict? What factors affect the yield curve?7. Who are the major players at various maturities on the curve? Illustrate several different issuers of securities on a yield curve.