NO.PZ2022122701000044
问题如下：
Which of the following is consistent with the expectation that exploiting a structural inefficiency is repeatable?
选项：
A.
The inefficiency is a unique event that occurs infrequently.
B.
The level of gross return is equal to the amount of transaction costs and expenses.
C.
The aggregate value of all assets affected by the inefficiency is larger than the AUM of the manager and its competitors.
解释：
Correct Answer: C
Given the amount of inefficient assets compared with the AUM of managers likely to exploit them provides some assurance that the inefficiency is repeatable. It would likely take some time for the inefficiency to converge to efficient valuation. The infrequent nature of the inefficiency and the zero marginal return suggest that the inefficiency is probably not worthwhile to pursue.
没太懂这个题的点，请教老师
