Sadka (2009)shows That Exposure to Unexpected Declines in ________ Is

question 12

Multiple Choice

Sadka (2009) 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
• E)A and D

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