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In measuring the Implementation Shortfall (IS), a common benchmark price for hypothetical trades is: @ a. The national best bid prevailing at the time the

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In measuring the Implementation Shortfall (IS), a common benchmark price for hypothetical trades is: @ a. The national best bid prevailing at the time the order was sent. @ b. The national best ask prevaling at the time the order was sent. The average of the bid and ask quotes prevailing at the time the order was sent d. None of the above

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