Question 13 1 > Two investment advisers are comparing performance. One averaged a 19% rate of return and the other a 15% rate of return. However, the beta of the first adviser was 1.5, whereas that of the second adviser was 1. If the T-bill rate was 5% and the market return during the period was 14%, which of the following statements regarding the two advisers is true? A B Both advisers are outperforming the CAPM benchmark The first adviser is outperfoming the second in selecting stocks despite the 0.5 higher beta The second adviser's alpha is 2% point higher than the first adviser's alpha The second adviser's idiosyncratic risk is higher than the first adviser's idiosyncratic risk D