Exhibit 25 -Refer to Exhibit 25

question 31

Multiple Choice

Exhibit 25.12
Use the Information Below for the Following Problem(S)
An analyst is considering investing in funds A, B, C, and D. The market portfolio, M, is expected to be 11% next period and the risk-free rate of return is 3%. The market portfolio had a standard deviation over the past ten years of 0.20. The analyst gathered the following information on the four funds.
$$\begin{array} { c c c c } \text { Atack } & \text { Return } & \text { Eetr } & \text { Б } \\\hline \text { A } & 17 \% & 1.7 & .21 \\B & 20 \% & 2.1 & .25 \\\text { C } & 10 \% & 0.9 & .12 \\D & 15 \% & 1.2 & 16\end{array}$$
-Refer to Exhibit 25.12.Rank the four funds and market portfolio in order from highest to lowest based on their Sharpe measures.

• A) A, B, C, D, M
• B) B, C, M, D, A
• C) C, A, M, D, B
• D) D, A, B, M, C
• E) D, B, A, C, M

Distinguish between conspicuous waste and conspicuous consumption, with examples.

Define the term "power" in a sociological context and how bureaucracy influences power dynamics.

Recognize the concepts of "the culture of poverty," "classist" thinking, and socioeconomic disparities in societies like Canada.

Understand the distinctions between void and voidable titles and their implications in business transactions.

---

Definitions:

Strict Scrutiny Test

A form of judicial review that courts use to determine the constitutionality of certain laws, requiring the law to be narrowly tailored to serve a compelling governmental interest.

Clear And Present Danger Test

A legal standard that determines under what circumstances limits can be placed on First Amendment freedoms of speech, press, or assembly.

Necessary And Proper Test

A constitutional doctrine that allows Congress to make laws deemed necessary and proper for executing its enumerated powers.

Equal Protection Test

A judicial scrutiny applied to ensure laws do not discriminate against groups or individuals unfairly.