NISM Certifications · NISM-Series-XV: Research Analyst · Fundamentals of Research
Which of the following is a primary source of data for an equity research analyst studying a listed company?
The company's annual report and exchange filings are primary sources because they come directly from the company and are the original record of information. Newspaper articles, other brokers' reports and forum posts are secondary sources, as they repackage or interpret that original information.
- AThe company's annual report and stock exchange filingsCorrect
- BA newspaper article summarising analyst views
- CA brokerage firm's older research report on the company
- DA discussion forum post about the company
Explanation
Primary sources are original documents produced by the company or regulators, such as annual reports and exchange filings. Newspaper articles, other reports and forum posts are secondary sources that interpret information.
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