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NEW QUESTION: 1
Geneva Management (GenM) selects long-only and long-short portfolio managers to develop asset allocation recommendations for their institutional clients.
GenM Advisor Marcus Reinhart recently examined the holdings of one of GenM's long-only portfolios actively managed by Jamison Kiley. Reinhart compiled the holdings for two consecutive non-overlapping five year periods. The Morningstar Style Boxes for the two periods for Kiley's portfolio are provided in Exhibits 1 and 2.
Exhibit 1: Morningstar Style Box: Long-Only Manager for Five-Year Period 1

Exhibit 2: Morningstar Style Box: Long-Only Manager for Five-Year Period 2

Reinhart contends that the holdings-based analysis might be flawed because Kiley's portfolio holdings are known only at the end of each quarter. Portfolio holdings at the end of the reporting period might misrepresent the portfolio's average composition. To compliment his holdings-based analysis, Reinhart also conducts a returns-based style analysis on Kiley's portfolio. Reinhart selects four benchmarks:
1. SCV: a small-cap value index.
2. SCG: a small-cap growth index.
3. LCV: a large-cap value index.
4. LCG: a large-cap growth index.
Using the benchmarks, Reinhart obtains the following regression results:
Period 1: Rp = 0.02 + H0.01(SCV) + 0.02(SCG) + 0.36(LCV) + 0.61(LCG)
Period 2: Rp = 0.02 + 0.01(SCV) + 0.02(SCG) + 0.60(LCV) + 0.38(LCG)
Kiley's long-only portfolio is benchmarked against the S&P 500 Index. The Index's current sector allocations are shown in Exhibit 3.
Exhibit 3: S&P 500 Index Sector Allocations

GenM strives to select managers whose correlation between forecast alphas and realized alphas has been fairly high, and to allocate funds across managers in order to achieve alpha and beta separation. GenM gives Reinhart a mandate to pursue a core-satellite strategy with a small number of satellites each focusing on a relatively few number of securities.
In response to the core-satellite mandate, Reinhart explains that a Completeness Fund approach offers two advantages:
Advantage 1: The Completeness Fund approach is designed to capture the stock selecting ability of the active manager, while matching the overall portfolio's risk to its benchmark.
Advantage 2: The Completeness Fund approach allows the Fund to fully capture the value added from active managers by eliminating misfit risk.
Which one of the following statements about Kiley's long-only portfolio is most correct1? Kiley's portfolio:
A. attempts to earn a positive alpha through security selection.
B. is only exposed to systematic risk.
C. is only exposed to unsystematic risk.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The way a long-only portfolio earns a positive alpha is through the selection of undervalued securities.
Stock selection is how Kiley generates his performance. Kiley's portfolio is potentially exposed to both systematic and unsystematic risk. (Study Session ll.LOS33.rn)

NEW QUESTION: 2
Which of the following privileges are mandatory for the initial user to configure SAP LT to
populate the SAP HANA database?
There are 2 correct answers to this question.
Response:
A. SELECT on SYS_REPL.RS_REPLICATION_COMPONENTS with grant option
B. CREATE ANY in _SYS_BIC schema
C. ROLE_ADMIN
D. EXECUTE of REPOSITORY_REST(SYS)
Answer: A,C

NEW QUESTION: 3
다음 중 정보 보안 연속 모니터링 (ISCM) 전략을 변경하는 주된 이유는 무엇입니까?
A. SOC (Service Organization Control) 2보고 요구 사항 변경
B. 핵심 임무 또는 비즈니스 프로세스에 대한 변경
C. CSRF (Cross-Site Request Forgery) 공격 증가
D. 테스팅 및 평가 (TE) 인력 변경
Answer: B

NEW QUESTION: 4

A. ip default-route 0.0.0.0 0.0.0.0 172.16.2.1
B. ip route 0.0.0.0 0.0.0.0 172.16.2.1
C. ip default-network 0.0.0.0
D. ip route 172.16.2.1 0.0.0.0 0.0.0.0
E. ip default-gateway 0.0.0.0
Answer: B,C
Explanation:
Both the "ip default-network" and "ip route 0.0.0.0 0.0.0.0 (next hop)" commands can be used to set the default gateway in a Cisco router.

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