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NEW QUESTION: 1
As administrator replaced a faulty IP phone with a new one by replacing the hardware and editing the phone MAC address in the device configuration in Cisco Unified Communications Manager. When the administrator tries to the save the configuration, the old MAC address still appears under the device configuration. What is the most likely cause of this issue?
A. The MAC address for the new IP phone must be configured in the publisher instead of the subscriber.
B. The Cisco Unified Communications Manager needs to be enabled for autoregistration.
C. The administrator must edit the new phone MAC address under the Phone Enterprise settings page.
D. The subscriber the phone is registered to may have database replication issues.
E. The administrator does not have full access privileges in Cisco Unified Communications Manager.
Answer: D

NEW QUESTION: 2
Which option is an example of physical device virtualization?
A. VRF
B. VPN
C. VLAN
D. VSS
Answer: D

NEW QUESTION: 3
Insurance companies often receive electronic hospitalization claims directly from hospitals.
Which of the following control procedures would be most effective in detecting fraud in such
an environment?
A. Use integrated test facilities to test the accuracy of processing in a manner that is transparent to data processing.
B. Use generalized audit software to match the claimant identification number with a master list of valid policyholders.
C. Develop batch controls over all items received from a particular hospital and process those claims in batches.
D. Develop monitoring programs to identify unusual types of claims or an unusual number of claims by demographic class for investigation by the claims department.
Answer: D

NEW QUESTION: 4
Powerful Performance Presenters (PPP) is a performance attribution and evaluation firm for pension consulting firms and has recently been hired by Stober and Robertson to conduct a performance attribution analysis for TopTech. Tom Harrison and Wendy Powell are the principals for PPP. Although performance attribution has come under fire lately because of its shortcomings, Stober believes PPP provides a needed service to its clients. Robertson shares Stober's view of performance attribution analysis.
Stober and Robertson request that Harrison and Powell provide a discussion of performance measures.
During a conversation on complements to attribution analysis, Harrison notes the uses of the Treynor ratio.
He states that the Treynor ratio is appropriate only when the investor's portfolio is well diversified. Powell states that the Sharpe ratio and the Treynor ratio will typically yield the same performance rankings for a set of portfolios.
Stober requests that PPP do some performance attribution calculations on TopTech's managers. In order to facilitate the analysis, Stober provides the information in the following table:

Harrison states one of PPP's services is that it will determine if TopTech has chosen a valid benchmark.
Stoher volunteers that indeed his firm's benchmark possesses the properties of a valid benchmark and describes its composition. The benchmark has the following characteristics:
* It uses the top 10% of U.S. portfolio managers each year in each asset class as the benchmark for TopTech managers;
* TopTech is very careful to make sure that its managers are familiar with the securities in each benchmark asset class;
* The identities and weights of various securities in the TopTech benchmark are clearly defined.
During a presentation to Stober, Robertson, and other TopTech executives, Harrison and Powell describe how macro attribution analysis can decompose an entire fund's excess returns into various levels. In his introduction, Robertson delineates the six levels as net contributions, risk-free return, asset categories, benchmarks, investment managers, and allocations effects.
Robertson states that TopTech has performed impressively at the investment managers level tor three years in a row. Harrison and Powell then describe the levels in greater detail. Harrison describes the benchmark level as the difference between active managers' returns and their benchmark returns. Powell states that the investment managers' level reflects the returns to active management on the part of the fund's managers, weighted by the amount actually allocated to each manager.
At the request of Stober, Harrison and Powell explore alternatives to the benchmark TopTech is currently using for its small-cap value manager. After some investigation of the small-cap value manager's emphasis, Harrison and Powell derive four potential custom benchmarks and calculate two measures to evaluate the benchmarks: (1) the return to the manager's active management or A = portfolio return - benchmark return; and (2) the return to the manager's style or S = benchmark return - broad market return.
The following characteristics are presented below for each benchmark: (1) the beta between the benchmark and the small-cap value portfolio; (2) the tracking error (i.e., the standard deviation of A); (3) the turnover of the benchmark; and (4) the correlation between A and S.

Harrison and Powell evaluate the benchmarks based on the four measures.
Regarding their statements concerning macro attribution analysis, determine whether Harrison and Powell are correct or incorrect.
A. Both Harrison and Powell are incorrect.
B. Only Powell is correct.
C. Only Harrison is correct.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Harrison is incorrect. The benchmark level examines the difference between the return to custom benchmarks reflecting the managers' styles and the return to a broad asset category. Essentially the benchmark return measures the return to style bets resulting from the policy weighting in various styles.
Powell is incorrect. Although the investment managers level does reflect the return from active management, it uses the policy weights established for each manager. Returns due to differences between policy weights and the amounts actually allocated to each manager do not show up until the last level of macro attribution analysis (i.e., allocation effects). (Study Session 17, LOS 47.k)

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