1. The return of holding a stock over certain period can be expressed as ______ .

   	A.	the capital gain yield plus the expected inflation rate
   	B.	the capital gain yield plus the dividend yield
   	C.	the capital gain yield minus the dividend yield
   	D.	the dividend yield plus the expected inflation rate

QUESTION 2

1. Suppose an investor earned returns -11%, 15%, and 20% over the past three years, what is the arithmetic average of the performance?

   	A.	15.67%
   	B.	8%
   	C.	11.22%
   	D.	6.45%