Sadka (2010) Shows That Exposure to Unexpected Declines in ________

question 7

Multiple Choice

Sadka (2010) shows that exposure to unexpected declines in ________ is an important determinant of average hedge fund returns, and that the spreads in average returns across funds with the highest and lowest ________ may be as much as 6% annually.

• A) market risk; systematic risk
• B) market liquidity; liquidity risk
• C) unsystematic risk; unique risk
• D) default risk; default risk

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