Question: If the Alpha is zero, it means: I. The return is zero II. The return is above market average. III. The return is below market

If the Alpha is zero, it means:

I. The return is zero

II. The return is above market average.

III. The return is below market average.

IV. The return is appropriate for the level of risk the asset has.

1. IV only

2. III and IV only

3. II and IV only

4. I only

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