Exposure for the purpose of education and training is permitted, provided that special care is taken to ensure that the annual EfD limit of ______ is not exceeded for persons under the age of 18 years.

The annual EfD limit for continuous or frequent exposure for the general public is ______ mSv.

If the daily 95% confidence level value-at-risk (VaR) of a portfolio is correctly estimated to be USD 10,000, one would expect that in one out of:

Suppose a hedge fund has a 2 and 20 fee arrangement and a net asset value (NAV) of $250 million at the beginning of the year. The high water mark was $280 million at the beginning of the year. At the end of the year, fund had a NAV of $278 million, before fees. If management fees are distributed annually based on the start-of-the year NAV, what is the total fees including both management and incentive fees for this year?

Suppose an analyst is valuing two markets. Market A is a developed market, and Market B is an emerging market. The investor’s time horizon is five years. The other pertinent facts are:   Measure Value Sharpe ratio of the global portfolio 0.29 Standard deviation of the global portfolio 8% Risk-free rate of return 4.5% Degree of market integration for Market A 80% Degree of market integration for Market B 65% Standard deviation for Market A 18% Standard deviation for Market B 26% Correlation of Market A with global portfolio .87   Correlation of Market B with global portfolio .63   Estimated illiquidity premium for A 0   Estimated illiquidity premium for B 2.4   Referring to Table: What is the expected return in each market?

Assume that a manager has $10 million of funds to invest. The manager then borrows an additional $100 million at 4 percent interest and invests all of the funds at a 5 percent rate of return. What is the resulting rate of return of the portfolio?

An investor would like to ensure that a hedge fund manager does not receive an annual incentive fee unless the fund’s net asset value (NAV) at the end of the year exceeds the NAV at the beginning of the year. What term best describes this incentive structure provision?

During interventional procedures, high level control fluoroscopy is employed, resulting in a _________ than during standard fluoroscopy.

Consider the following table of monthly returns for a hedge fund and an index portfolio. For the purpose of computation, the hurdle rate is the U.S. T-bill rate, assumed to be 6 percent per year.                                                 RETURNS (%)                                      MONTH    Hedge Fund       INDEX January 3.5% 2.4% February 4.0% 3.0% March – 2.0% -1.6% April -2.0% -1.0% May 1.0% 0.2% June 1.0% 1.0% What is the arithmetic average rolling returns for the hedge fund if the investor’s investment horizon is four months?

For a given portfolio, having a Treynor measure greater than the market but a Sharpe measure that is less than the market would most likely indicate that the portfolio is: