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Man, those test proctors really come down hard on talking. I got kicked out for bellowing quietly in the corner and chewing on a test booklet.

Soft Dollars

The door opened and the teacher came back in. "Who can tell me what soft and hard dollars are? Stop smirking, people, this isn't Adult Film 101." She pointed at Eddie. "Describe a soft dollar arrangement to me, in fifty words or less."

Eddie knew this one. "Soft dollars are a way to use commission revenue to pay brokerage firms for their services, as opposed to paying with hard dollars. An example would be a mutual fund company that 'purchases' a brokerage firm's research or analytics...

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