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1ActivemanagementAttemptstoachieveportfolioreturnsmorethancommensuratewithriskeitherbyforecastingbroadmarkettrendsorbyidentifyingparticularmispricedsectorsofamarketorsecuritiesinamarket.AgencyproblemConflictsofinterestamongstockholdersbondholdersandmanagers.AssetallocationdecisionChoosingamongbroadassetclassessuchasstocksversusbonds.DerivativesecuritySeeprimitivesecurity.EquityOwnershipinafirm.Alsothenetworthofamarginaccount.FinancialassetsFinancialassetssuchasstocksandbondsareclaimstotheincomegeneratedbyrealassetsorclaimsonincomefromthegovernment.FinancialintermediaryAninstitutionsuchasabankmutualfundinvestmentcompanyorinsurancecompanythatservestoconnectthehouseholdandbusinesssectorssohouseholdscaninvestandbusinessescanfinanceproduction.Fixed-incomesecurityAsecuritysuchasabondthatpaysaspecifiedcashflowoveraspecificperiod.Passive...。