Values are ideas that are important to you as an individual

When a customer purchases a product but is not yet ready for delivery, this is referred to as:

a. a repurchase agreement. b. a consignment. c. a principal-agent relationship. d. a bill-and-hold arrangement

You have just read the annual report of a mutual fund. It boasted of a 26% return and advertised that it had beat the market return last year by three percentage points

In doing some research you discover the fund had a beta of +1.5 and the return on risk-free Treasury securities was 15.0%. Assuming a market risk premium of 8.0% should be used to evaluate performance means that A) the fund's performance was impressive; three percentage points is significant, given the above data. B) the fund's performance was good, but not impressive; it beat the market, but only by one percentage point not three. C) the fund's performance was no better than what you would have expected. D) the fund's performance was actually a percentage point less than what you would have expected.