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NEW QUESTION: 1
Geneva Management (GenM) selects long-only and long-short portfolio managers to develop asset allocation recommendations for their institutional clients.
GenM Advisor Marcus Reinhart recently examined the holdings of one of GenM's long-only portfolios actively managed by Jamison Kiley. Reinhart compiled the holdings for two consecutive non-overlapping five year periods. The Morningstar Style Boxes for the two periods for Kiley's portfolio are provided in Exhibits 1 and 2.
Exhibit 1: Morningstar Style Box: Long-Only Manager for Five-Year Period 1
Exhibit 2: Morningstar Style Box: Long-Only Manager for Five-Year Period 2
Reinhart contends that the holdings-based analysis might be flawed because Kiley's portfolio holdings are known only at the end of each quarter. Portfolio holdings at the end of the reporting period might misrepresent the portfolio's average composition. To compliment his holdings-based analysis, Reinhart also conducts a returns-based style analysis on Kiley's portfolio. Reinhart selects four benchmarks:
1. SCV: a small-cap value index.
2. SCG: a small-cap growth index.
3. LCV: a large-cap value index.
4. LCG: a large-cap growth index.
Using the benchmarks, Reinhart obtains the following regression results:
Period 1: Rp = 0.02 + H0.01(SCV) + 0.02(SCG) + 0.36(LCV) + 0.61(LCG)
Period 2: Rp = 0.02 + 0.01(SCV) + 0.02(SCG) + 0.60(LCV) + 0.38(LCG)
Kiley's long-only portfolio is benchmarked against the S&P 500 Index. The Index's current sector allocations are shown in Exhibit 3.
Exhibit 3: S&P 500 Index Sector Allocations
GenM strives to select managers whose correlation between forecast alphas and realized alphas has been fairly high, and to allocate funds across managers in order to achieve alpha and beta separation. GenM gives Reinhart a mandate to pursue a core-satellite strategy with a small number of satellites each focusing on a relatively few number of securities.
In response to the core-satellite mandate, Reinhart explains that a Completeness Fund approach offers two advantages:
Advantage 1: The Completeness Fund approach is designed to capture the stock selecting ability of the active manager, while matching the overall portfolio's risk to its benchmark.
Advantage 2: The Completeness Fund approach allows the Fund to fully capture the value added from active managers by eliminating misfit risk.
Assuming Kiley feels that the Utilities Sector is overvalued now, the largest active weight that Kiley can apply to the Utilities sector is:
A. -3%
B. 3%.
C. 0%.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The most extreme negative decision that a long-only manager can make is to drop the allocation to the sector to zero. The active weight is the difference between the manager's allocation and the benchmark allocation: 0 - 3% = -3%. (Study Session 11, LOS 33.m)
NEW QUESTION: 2
Your network contains an Active Directory domain named contoso.com. All client computers run Windows 8.1.
The network contains a shared folder named FinancialData that contains five files.
You need to ensure that the FinancialData folder and its contents are copied to all of the
client computers.
Which two Group Policy preferences should you configure? (Each correct answer presents
part of the solution. Choose two.)
A. Files
B. Environment
C. Folders
D. Network Shares
E. Shortcuts
Answer: A,C
Explanation:
Folder preference items allow you to create, update, replace, and delete folders and their contents. (To configure individual files rather than folders, see Files Extension.) Before you create a Folder preference item, you should review the behavior of each type of action possible with this extension. File preference items allow you to copy, modify the attributes of, replace, and delete files. (To configure folders rather than individual files, see Folders Extension.) Before you create a File preference item, you should review the behavior of each type of action possible with this extension.
NEW QUESTION: 3
会社には、Windows 10を実行する500台のクライアントコンピューターがあります。
Microsoft Office 365 ProPlusをすべてのコンピューターに展開する予定です。
計画された展開用に次のXMLファイルを作成します。
ドロップダウンメニューを使用して、図に示されている情報に基づいて各ステートメントを完成させる回答の選択肢を選択します。
注：それぞれの正しい選択には1ポイントの価値があります。
Answer:
Explanation:
Explanation
Box 1:
When the installation is complete, all users will be prompted to install several updates.
In the configuration file, the Updates Enabled element is set to True. This means that Office will check for updates after the installation.
The Channel element set to Broad means that all semi-annual channel updates will be installed.
Box 2:
Office 365 ProPlus will be installed only on the computers that run a 64-bit version of Windows 10.
The OfficeClientEdition element defines whether the 32-bit or 64-bit edition of Office 365 ProPlus is downloaded or installed. In the configuration file, it is set to '64'. The 64-bit version will only install on a
64-bit client computer.
Reference:
https://docs.microsoft.com/en-us/deployoffice/configuration-options-for-the-office-2016-deployment-tool
NEW QUESTION: 4
You configure monitoring for a Microsoft Azure SQL Data Warehouse implementation. The implementation uses PolyBase to load data from comma-separated value (CSV) files stored in Azure Data Lake Gen 2 using an external table.
Files with an invalid schema cause errors to occur.
You need to monitor for an invalid schema error.
For which error should you monitor?
A. EXTERNAL TABLE access failed due to internal error: 'Java exception raised on call to HdfsBridge_Connect: Error
[com.microsoft.polybase.client.KerberosSecureLogin] occurred while accessing external files.'
B. Cannot execute the query "Remote Query" against OLE DB provider "SQLNCLI11": for linked server
"(null)", Query aborted- the maximum reject threshold (o
rows) was reached while regarding from an external source: 1 rows rejected out of total 1 rows processed.
C. EXTERNAL TABLE access failed due to internal error: 'Java exception raised on call to HdfsBridge_Connect: Error [Unable to instantiate LoginClass] occurred while accessing external files.'
D. EXTERNAL TABLE access failed due to internal error: 'Java exception raised on call to HdfsBridge_Connect: Error [No FileSystem for scheme: wasbs] occurred while accessing external file.'
Answer: B
Explanation:
Explanation
Customer Scenario:
SQL Server 2016 or SQL DW connected to Azure blob storage. The CREATE EXTERNAL TABLE DDL points to a directory (and not a specific file) and the directory contains files with different schemas.
SSMS Error:
Select query on the external table gives the following error:
Msg 7320, Level 16, State 110, Line 14
Cannot execute the query "Remote Query" against OLE DB provider "SQLNCLI11" for linked server
"(null)". Query aborted-- the maximum reject threshold (0 rows) was reached while reading from an external source: 1 rows rejected out of total 1 rows processed.
Possible Reason:
The reason this error happens is because each file has different schema. The PolyBase external table DDL when pointed to a directory recursively reads all the files in that directory. When a column or data type mismatch happens, this error could be seen in SSMS.
Possible Solution:
If the data for each table consists of one file, then use the filename in the LOCATION section prepended by the directory of the external files. If there are multiple files per table, put each set of files into different directories in Azure Blob Storage and then you can point LOCATION to the directory instead of a particular file. The latter suggestion is the best practices recommended by SQLCAT even if you have one file per table.
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