You Find a New Organism

question 1

Multiple Choice

You find a new organism. It gains nutrients by secreting enzymes outside of itself and absorbing the digested product. It is eukaryotic and has a cell wall containing chitin. It reproduces with flagellated, swimming spores. You classify the new organism as a(n)

• A) rumen fungus.
• B) basidiomycota.
• C) ascomycota.
• D) mushroom.

---

Definitions:

Relative Value Strategy

An investment strategy that seeks to identify and exploit differences in the price or rate of securities, often aiming to profit from discrepancies in relative valuation rather than absolute price movements.

On-The-Run Bonds

The most recent issue of a government bond, usually more liquid and yielding slightly less interest compared to older ('off-the-run') bonds.

Nearly Identical Duration

A characteristic of two or more financial instruments whose cash-flows occur over a similar time frame, making their sensitivity to interest rate changes similar.

Hedge Fund Fee Structure

The compensation arrangement between hedge funds and their managers, typically involving a management fee plus a performance fee based on the fund's returns.