Hasit and Chandni Kumar are in their early? 40s, and until now they have always kept their savings in the bank. They liked the idea that a deposit in a bank was insured and guaranteed and? that, regardless of what happened in the economy or to the? bank, they could always get their money. Hasit and Chandni recently talked with a stockbroker about funding their retirement. The stockbroker pointed out that in terms of reaching their retirement? goals, a bank account does not pay enough interest. The broker recommended that they invest in a combination of? stocks, bonds, mutual? funds, and money market accounts. Both are skeptical about the ultimate safety of their investments.? Specifically, Hasit is worried about what would happen to their securities and cash if the brokerage firm went? bankrupt, and Chandni is concerned that the markets are rigged and that only those with inside information ever make any money. Both are equally concerned that the markets are unregulated gambles and that there is no way to regulate the ethics of brokers.? They’ve come to you for some advice on what to do.Questions1.Should Hasit be concerned about the lack of insurance on his brokerage? account? Are there any specific securities acts you could cite to back up your? answer?2.Chandni is concerned about insider trading. Do you agree with? Chandni’s concerns? Why or why? not?3.Provide Hasit and Chandni a list of questions to ask potential brokers to assure the Kumars they will receive the best service at the lowest costs.4.Hasit and Chandni are considering bypassing the broker and going directly online to trade. What cautions would you share with? them? What is the difference between online investing and day? trading?5. If an account titling option is? available, would you recommend that Hasit and Chandni own their account as? tenants-in-common or as joint tenants with rights of? survivorship? Why? What is the primary difference in the two account titling? options?