1. The Manhawkin Fund has an expected return of 12% and a variance of 2.56%. The risk-free rate is 4%. What is the reward-to-variability ratio for the Manhawkin Fund?
   1. 0.5
   2. 1.3
   3. 3.0
   4. 1.0
2. The annual returns for S&P500 large-cap stocks from 1926 to 1930 were 13.75%, 35.70%, 45.08%, -8.80%, and -25.13%. What was the geometric average return during that period?
   1. 12.12%
   2. 11.85%
   3. 9.26%
   4. 8.87%
3. Consider the following two investment alternatives. One, a risky portfolio that pays 15% rate of return with a probability of 60% or 5% with a probability of 40%. Two, a T-bill that pays 6%. The risk premium on the risky investment is:
   1. 2%
   2. 5%
   3. 9%
   4. 11%
4. You invest $100 in a portfolio, which is composed of a risky asset with an expected return of 12% and a standard deviation of 15%. The risk free rate is 5%. What percentage of your money should be invested in the risky asset to form a portfolio with an expected return of 9%?
   1. 87%
   2. 77%
   3. 67%
   4. 57%

Please show me the calculations too. Thank you!!