KATHERINE’S COMMENT THAT DAVID HAS SUCCESSFULLY MANAGED TO OUTP...

57. Katherine’s comment that David has successfully managed to outperform an unambiguous

benchmark showing him to be a successful fund manager with regard to market timing and

exposure to fundamental factors is:

A. correct both with regard to outperformance of an unambiguous benchmark and success in

market timing and exposure to fundamental factors.

B. correct with regard to outperformance of an unambiguous benchmark but incorrect regarding

David’s success in market timing and exposure to fundamental factors.

C. incorrect with regard to outperformance of an unambiguous benchmark but correct regarding