1. Which of the following statement is incorrect about hedge funds?

	A.	Compared to index funds, they suffer less from client favoritism.
	B.	Cannot offer securities to the public.
	C.	Short lock-up period allows hedge funds to make long-term investments.
	D.	Originated from Alfred Winslow Jones who established in 1949 a private investment partnership that adopted a relative value strategy.

2. In which case would the mandatory bid rule deter efficient acquisition?

	A.	Lower the level of threshold.
	B.	A lower level of private benefit of control consumed by the old block holder.
	C.	Higher level of total firm value under the new block holder.
	D.	a lower level of total firm value under the old block holder.

ALL EXPLANATIONS ARE NEEDED!