9. What's most important for managing high yield bonds? a. Manage interest rate duration b. Manage credit exposure c. Manage convexity 10. In practice, for rebalancing, it is best to a. Rebalance quarterly b. Rebalance daily c. Set a band around target weight and rebalance once weight falls outside of band 11. Passive bond management techniques don't usually include: a. Cellular maturity & sector optimization b. Full replication c. Tracking risk minimization 12. When forecasting capital market expectations, this approach weights sample estimates with other parameters to reduce impacts of extreme values. a. Multi-factor estimators b. Time-series estimators c. Shrinkage estimators 13. The behavioral bias that results in setting narrow confidence bounds in estimates of future outcomes is a. Overconfidence b. Anchoring c. Recallability which 14. Appraisal based returns data is most applicable to causes volatility to be a. Mutual funds; represented correctly b. Hedge funds; overstated c. Private equity; understated 15. What's most important? a. total return b. growth of principal c. cash flow yield