Exhibit 20

question 31

Multiple Choice

Exhibit 20.10.SHY (NYSEARCA: SHY) is a 1-3 year Treasury bond fund which is considered to be a market neutral position.Using the S&P 500 as a benchmark and five years of monthly log-return data,the rank correlation coefficient of SHY with the S&P 500 is found to be . Refer to Exhibit 20.10.Since the sample size is greater than 10, can be assumed to follow a normal distribution with standard deviation:

• A)0
• B)0.129
• C)0.130

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Definitions:

Aggressive Behaviour

Actions that are intended to cause harm or pain to another person, which can be physical or verbal and is often a response to perceived threats or challenges.

Correlation

A measure of the relationship between two variables, indicating how one may predict or be associated with the other.

Causation

The action of causing something, indicating a relationship where one factor or event makes another happen.

Hard Sciences

Disciplines that rely on empirical and quantitative data to study the natural world, typically including fields like physics, chemistry, and biology.