Foundations for Scientific

Foundations for Scientific Investing:
Extended Solutions to Multiple-Choice Questions

© 2022-2014 by Timothy Falcon Crack PhD(MIT)

"...a firm foundation for thinking about and conducting investment."

    Extended Suggested Solutions to the More Difficult Multiple-Choice Questions


This Web page provides extended answers to the more difficult multiple-choice questions appearing in the 7th edition of the Q&A Book (i.e., Foundations for Scientific Investing: Multiple-Choice, Short-Answer, and Long-Answer Test Questions, ISBN 978-0-9951173-5-8, January 1, 2021). Most of these solutions were generated in response to queries from readers.

If you find an error of any kind on this page, or if you need an answer that is not here, or if the explanation given here is insufficient, I am happy to help. Please send me an email request with "Q&A Book" in the subject line using one of the following contacts:

The individual letter solutions to all Q&A Book Questions appear on pp. 269/270 of the Q&A book and also appear online at (for any files at the web site that are password protected, please look up "password" in the index of FFSI or Q&A Book).

The answers below are numbered using the numbers in the 7th edition of the Q&A Book. If, however, a question also appeared in the 6th edition, then that question number is given alongside the 7th edition number. For example, "Q2" gives the solution to Question 2 in the 7th and 6th editions, but "Q161/Q133" gives the answer to Q161 in the 7th edition (which is also Q133 in the 6th edition). If a Q&A book question appeared in the University of Otago FINC302 Mid-Term exam in 2020, then the MTQ number is given also. For example, Q140/2020MTQ5 gives the answer to Q140 from the 7th edition of the Q&A book (which also appeared as Q5 of the 2020 FINC302 Mid-Term exam). Quoted page numbers are from the 10th Edition of Foundations for Scientific Investing: Capital Markets Intuition and Critical Thinking Skills (ISBN 978-0-9951173-6-5, December, 2020) (FFSI) unless otherwise indicated.

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Last Updated: March 2, 2023