Question 21 2.2 pts For a given sector such as healthcare or semiconductors, investing in ETFs will be preferred to stockpicking when: the distribution of returns is tightly clustered around a well-defined mean the distribution of returns is not known the distribution of returns of companies in the sector is widely dispersed the distribution of returns is reasonably close to a normal distribution the sector shows higher-than-average volatility Question 22 2.2 pts The equity risk premium is: zero for foreign equities and positive for US equities zero for US equities and positive for foreign equities the extra yield required by equity investors compared to Treasurys the risk-free rate plus a future discount