5. What is the term used to describe the error of using data before it was available to the market? A. Look ahead bias B. Matching across data sources C. Matching different periodicity D. Survivorship bias Answer: 6. Fundamental fund managers excel over quant fund managers in which of the following areas? A. Industry specific economics B. Portfolio construction C. In-depth analysis of stock fundamentals D. A and C Answer: 7. Which of the following is not true about active investment managers? A. They believe they can outperform the benchmark. B. They believe that the markets are efficient. C. They charge high fees. D. They manage riskier portfolios. Answer: 8. Which of the below is a common problem encountered with risk profiling? A. A client's risk profile is a way of understanding their tolerance to risk and ensure their portfolio is constructed accordingly. B. A client's risk profiling questionnaire may return an investment profile that may not meet their income needs in retirement. C. A client's risk profile leads to safer investing. D. A client's risk profile leads to outperformance