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NEW QUESTION: 1
Millennium Investments (MI), an investment advisory firm, relies on mean-variance analysis to advise its clients. Mi's advisors make asset allocation recommendations by selecting the mix of assets along the capital allocation line that is most appropriate for each client.
One of MPs clients, Edward Alverson, 60 years of age, requests an analysis of four risky mutual funds (Fund W, Fund X, Fund Y, and Fund Z). After examining the four funds, MI finds that all four mutual funds are equally weighted portfolios, and that all of the funds, except Fund Z, are mean-variance efficient. MI also finds that the correlations between all pairs of the mutual funds are less than one.
MI calculates the average variance of returns across all assets within each mutual fund, the average covariance of returns across all pairs of assets within each mutual fund, and each mutual fund's total variance of returns. The results of Mi's calculations are reported in Exhibit 1.

During his meeting with the MT advisors, Alverson explains that he will retire soon, and, consequently, is highly risk-averse. Alverson agrees with Mi's reliance on mean-variance analysis and makes the following statements:
Statement 1: All portfolios lying on the minimum variance frontier are desirable portfolios.
Statement 2: Because I am highly risk-averse, I expect that my investment portfolio on the capital allocation line will have risk and return equal to that of the global minimum variance portfolio.
MI operates under the assumption that all investors agree on the forecasts of asset expected returns, variances, and correlations. Based on these assumptions, MI created the Millennium Investments 5000 Fund (MI-5000), which is a market value-weighted portfolio of all assets in the market. MI derives the forecasts for the MI-5000 Fund and for a fund comprising short-term government securities shown in Exhibit 2.

Given Mi's assumption that all investors have identical expectations of expected returns, variances, and correlations, and given the capital market forecasts in Exhibit 2, MI should conclude that the expected returns on Funds W and Z are:
A. E(R) on both funds are less than 0.225.
B. E(R) on Fund Wis less than 0.225.
C. E(R) on Fund Z is less than 0.225.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Assuming all investors agree on all asset return, variance, and correlation expectations, then the market portfolio has the highest Sharpe ratio. The Sharpe ratio for the market portfolio equals the slope of the capital market line:


NEW QUESTION: 2
Which authority is required for the creation of a database role?
A. DBADM
B. SYSADM
C. DBMAINT
D. SYSOPR
Answer: B

NEW QUESTION: 3
次のストアドプロシージャがあります。

ストアドプロシージャを実行すると、Numbersテーブルは利用できなくなります。ストアドプロシージャはテーブルの排他ロックを取得し、ロックを解除しません。
問題を解決するための2つの可能な方法は何ですか?正解はそれぞれ完全な解決策を提示します。
注:それぞれ正しい選択は1ポイントの価値があります。
A. ANSI_DEFAULTステートメントをOFFに設定し、COMMIT TRANSACTIONを追加します。
INSERTステートメントの後のステートメント
B. 暗黙のトランザクションとSET ANSI_DEFAULTS ONステートメントを削除してください。
C. SET ANSI DEFAULTS ONステートメントを削除してください。
D. INSERT文の後にCOMMIT TRANSACTION文を追加します。
Answer: C,D
Explanation:
Explanation
SET ANSI_DEFAULTS is a server-side setting that the client does not modify. When enabled (ON), this option enables SET IMPLICIT_TRANSACTIONS (and some other options).
The SET IMPLICIT_TRANSACTIONS, when ON, the system is in implicit transaction mode.
This means that if @@TRANCOUNT = 0, any of the following Transact-SQL statements begins a new transaction. It is equivalent to an unseen BEGIN TRANSACTION being executed first: ALTER TABLE, FETCH, REVOKE, BEGIN TRANSACTION, GRANT, SELECT, CREATE, INSERT, TRUNCATE TABLE, DELETE, OPEN, UPDATE, DROP.
References:
https://docs.microsoft.com/en-us/sql/t-sql/statements/set-implicit-transactions-transact-sql?view=sql-server-2017

NEW QUESTION: 4
Which attribute must be defined in JPA Explorer to test JPA entities within UTC?
A. JPA project name
B. JPA test project name
C. name of a created JPA entity
D. persistence-unit name
Answer: D