After Seeing the Web Address of a Local Retail Store

question 5

Multiple Choice

After seeing the web address of a local retail store on TV,Alex was able to remember it only long enough to post it in his frequent contacts file.In this case,the web address was clearly stored in his ________ memory.

• A) implicit
• B) short-term
• C) echoic
• D) long-term

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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.