Question 16 Firms in which of the following industries are MOST LIKELY to have the highest P/E ratios? a. Biotechnology 0 b. Chemical Products c. Electric Utilities d. Industrial Metals e. Telecommunication Services Choosing to hold a larger cash position relative to a funds benchmark target cash allocation in expectation of a decline in risky asset classes is a form of a. Alpha Transfer b. Idiosyncratic Risk C C. Market Timing d. Selection Bias e. Technical Analysis In equity valuation, the technique used to determine how valuation will change with changes in the underlying valuation model assumptions (such as discount rate, growth rate, or terminal value) is known as a. Earnings Management b. Fiscal Policy c. Monetary Policy d. Sensitivity Analysis e. Technical Analysis