Which of the following is NOT a problem with beta and its estimation? (5 pts)

	1.	Sometimes a security or project does not have a past history which can be used as a basis for calculating beta.
	2.	Sometimes, during a period when the company is undergoing a change, such as toward more leverage or riskier assets, the calculated beta will be drastically different that the true or expected future beta.
	3.	The beta of the Market can change over time, sometimes dramatically.
	4.	Sometimes the past data used to calculate beta do not reflect the likely risk of the firm for the future because conditions have changed.
	5.	There is a wide confidence interval around a typical stocks estimated beta.