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1. In most institutional investment firms, a positive alpha relative to the specified risk model means a. the regression intercept ensures there are no factors

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1. In most institutional investment firms, a positive alpha relative to the specified risk model means a. the regression intercept ensures there are no factors missing b. the portfolio manager has underperformed the benchmark c. the regression intercept indicates some factors are missing d. the portfolio manager has done a good job e. very little, because the risk model is probably faulty

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