QUESTION 14

1. Lightning Fund invests primarily in firms with above average expected changes in revenue, earnings, and operating cash flow. Lightning is most likely characterized as a(n):

a. Growth fund.

b. Balanced fund.

c. Income fund.

d. Money market fund.

QUESTION 20

1. Actively managed portfolios that are successful most likely show the combination of:

a. Positive alphas with low r-squared.

b. Positive alphas with high r-squared.

c. Zero betas with high r-squared.

d. High betas with low r-squared.