The correct answer is B. Bear.
A bear is a speculator who expects the prices of securities to fall in the near future. They typically sell securities short, which means they borrow shares of a stock and sell them, hoping to buy them back at a lower price in the future. If the price does fall, the bears can buy the shares back at a lower price and return them to the lender, pocketing the difference.
A bull is a speculator who expects the prices of securities to rise in the near future. They typically buy securities, hoping to sell them at a higher price in the future. If the price does rise, the bulls can sell the shares at a higher price and make a profit.
A stag is a speculator who buys securities in the hope that they will increase in value, but does not sell them short. Stags typically buy securities that they believe are undervalued and hold them for a long period of time, hoping to sell them at a profit in the future.
An underwriter is a financial institution that helps companies raise money by selling securities to the public. Underwriters typically charge a fee for their services, which is usually a percentage of the total amount of money raised.