NO.PZ201512300100000101
问题如下：
1. Based on Statement 2, which of the following sources of perceived mispricing do active investment managers attempt to identify? The differencebetween:
选项：
A.intrinsic value and market price.
B.estimated intrinsic value and market price.
C.intrinsic value and estimated intrinsic value.
解释：
A is correct.
The difference between the true (real) but unobservable intrinsic value and the observed market price contributes to the abnormalreturn or alpha which is the concern of active investment managers.
老师C选项不也是每个投资经理获得α的一部分吗？为什么不选择C呢？
