9) Jensen's 1968 study on the performance of mutual funds indicates the following:

A. Mutual funds underperformed the market by approximately the amount they spent on expenses.

B. When grouped in terms of their previous performance, mutual funds that did well in the first period also did well in the second period

C. Mutual funds do not outperform the market on average

D. None of the above

13) Suppose a security's mean return is 1.50%. On a particular day, the return on the market is 1.20% while the return on the security is 1.85%. Calculate the mean adjusted abnormal return.

		A. 0.35%
		B. 0.65%
		C. None of the above

14) Suppose a security's mean return is 1.50%. On a particular day, the return on the market is 1.20% while the return on the security is 1.85%. Calculate the market adjusted abnormal return.

		A. 0.35%
		B. 0.65%
		C. None of the above