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Fund Sponsors often use the median account in a particular universe of account returns as an appropriate benchmark. This form of benchmark has a number of drawbacks. Which of the following is NOT a drawback that would be associated with using the median account as a benchmark? A. It is not measurable as its value cannot be determined on a reasonably frequent basis. B. It is virtually impossible to identify the median manager in advance. C. As the median manager is unknown, the measure is ambiguous. |