1. A technical analyst might consider the following a bearish signal: a. the percentage of speculators in share index futures that are bullish exceeds 70%. b. the T-bill Eurodollar spread narrows. c. investment advisory opinions are bearish. d. the percentage of speculators in share index futures that are bearish is less than 30%.

2. Which of the following statements about style investing is false?

a. Style investing allows control of the total portfolio to be shared between the investment managers and a knowledgeable sponsor.

b. An investment manager's style cannot be used as a basis for measuring the manager's performance relative to a benchmark.

c. Style identification allows an investor to select investment managers that allow his overall portfolio to be properly diversified.

d. A manager's choice to align with an investment style communicates information to clients about the investor's focus, area of expertise, and share evaluation methods.