True or false for the questions below

12. A negative covariance between two investments means that the correlation coefficient will always be negative as well; this implies that these investments would achieve a more favorable diversification benefit than if the numbers were positive. 13. Aggregate Market Indices such as the S& P 500 are an important tool to use as a benchmark to evaluate the performance of professional money managers. 14. The Dow Jones Industrial Average (DJIA) is an example of a Security Market value weighted index. 15. Price Weighted Security Market Indices are disproportionately influenced by larger capitalization companies. 16. Bond Security Market Indices are easier to create and maintain than stocks given the more limited financial elements affecting their valuations and returns. 17. The Institutional Credit Investor in the Warehouse Loan on Loan business earns a strong "near double digit return by effectively subordinating its direct mortgage credit to the Senior Commercial Bank Lenders'" Advance Line issued to the Mortgage Lender. 18. Subordination was a significant risk to the providers of Archstone's Corporate Revolving Line of Credit due to the presence of 1s Mortgage Liens on all properties being superior to the Banks Revolver. A Lock Out was a significant price risk to the Lehman client in monetizing its equity stake in a potential IPO. 19. A Big Bear event refers to an economic event where the decline of valuations of various investments such as stocks, bonds and real estate fall by 30% or more. This contrasts with another event called a Correction, where the valuations fall by 15% or more. 20. Lock Outs, as demonstrated in the Archstone Case Study, can create a significant risk in the ability of existing investors taking a company public to realize the increased valuations and may influence alternative investment considerations which have greater certainty of realizable values