You evaluate the monthly performance of your portfolio managers against a broad market index. At the end of each year, you add up the number of months in which their performance exceeded that of the market index. If the probability of beating the market index each month, after expenses and sales loads, is
6 5%, what is the mean and variance of the number of months in a year a manager would beat the index?

Refer to the graph below. Which rectangle represents monopolists' profit?

What are the main criteria to consider in the policy statement with regard to asset allocation?
I). What asset classes to consider for investment.
II). What normal policy weights to assign to each eligible asset class.
III). The allowable allocation ranges based on policy weights.

When the market is in backwardation, the roll yield will be ______ for a hedger.

On January 1, a business exchanged a plant asset with a book value of $1,500 for a similar asset that had a price of $23,000. The business received a trade-in allowance of $2,100 on the old plant asset.
The income-tax method was used to record this trade. What was the result of the exchange?