1. Suppose that in the last 20 years the S&P 500 index has yielded an average excess return of 9% and an average standard deviation of 12%. Based on the historical data, what must have been the average coefficient of risk aversion?

		None of the options
		12
		6.25
		9
		4.25

2.

On January 1, you sold one April S&P 500 Index futures contract at a futures price of 1,430. If, on February 1, the April futures price was 1,450, what would be your profit (loss) if you closed your position (without considering transactions costs)? The multiplier is $250.

		$2,500 loss
		$20 profit
		$2,500 profit
		$5000 loss