Exhibit 25 -Refer to Exhibit 25

question 1

Multiple Choice

Exhibit 25.5
Use the Information Below for the Following Problem(S)
The data presented below has been collected at this point in time.
$$\begin{array} { l c c c c } \text { Fund } & \text { Beta } & \text { Devintion (\%) } & \text { Return (\%) } & \text { R } _ { ( } ( \% ) \\\hline \text { XOX } & 1.07 & 5.13 & 19 & 6 \\\text { YYY } & 1.02 & 4.28 & 17 & 6 \\\text { ZZZ } & 0.86 & 3.52 & 12 & 6\end{array}$$
-Refer to Exhibit 25.5.Compute the Treynor Measure for the ZZZ fund.

• A) 6.98
• B) 2.35
• C) 2.53
• D) 3.86
• E) 1.72

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Definitions:

Negotiating Parties

are the individuals or groups involved in a negotiation process, each with their own interests and objectives.

Well-Organized Audiences

Groups of people who are arranged or structured efficiently, often in the context of attending or participating in specific events.

Significant Effect

An impact or change that is large enough to be noticed or considered important.

Unfavorable Effects

Undesired or negative consequences resulting from a particular action or event.