25. A portfolio with a stated objective of minimizing volatility risk for a given expected return is most likely to exhibit

A.Zero skewness

B.Positive skewness of returns

C.Negative skewness of returns

26. Compared to the risks of overweighing a stock in an active equity portfolio, the risk of underweighting or shorting a stock is generally

A. symmetric, the risks are the same

B. higher for the underweight or short position

C. lower for the underweight or short position

27. S&P 500 E-mini futures have an initial and maintenance requirement of $13,200 and $12,000 respectively. Assume a retail investor purchases 25 E-mini futures priced at 2,875. Each futures contract has a multiplier of $50.At what price of the S&P 500 Index will the retail investor be asked to post maintenance margin?

A. 2,779

B. 2,851

C. 2,825