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Which statement about key market risks for pension funds and asset management firms least accurate? A. Surplus risk is a major risk for the plan sponsor of a defined benefit plan. B. The risks to fee income are a core risk of an asset management firm and not generally hedged. C. The risks to a defined benefit plan are indirect because plan participants take on shortfall risk. D. VAR models are useful tools for managing customer-satisfaction risk of an asset management firm because they can help educate customers about the usual types of risks in the firm’s funds. |