The Wilmot Proviso

question 113

Multiple Choice

The Wilmot Proviso

• A)was passed by the House of Representatives, but failed in the Senate.
• B)won the support of southern Whigs.
• C)was passed in the Senate, but failed in the House of Representatives.
• D)was passed by Congress, but vetoed by the President.
• E)none of these choices

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Definitions:

High Water Mark

A clause in fund management contracts that prevents fund managers from receiving large bonuses for poor performance, ensuring they only earn a performance fee when the fund's value exceeds its previous highest value.

Incentive Fees

Fees paid to a fund manager based on performance, often as a percentage of the investment gains beyond a specified benchmark.

Hedge Fund Manager

An individual or firm responsible for making investment decisions in a hedge fund to maximize returns and minimize risks.

Survivorship Bias

The error of focusing only on the entities that have survived some process and overlooking those that have failed.