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    Information Ratio

    I'm confused on which Information Ratio to use. It appears that there are two equations. This depends on active or residual? = Alpha / Tracking Error = Rp - Rb / Tracking Error
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    GARP 2020 Books - Question 5.10

    I'm having trouble understanding this question from the 2020 text. If volatility A = 20% and volatility B = 40% and a portfolio is formed with half the money invested in each stock, then portfolio volatility must be B. between 10% and 40% Can anyone please help?
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    FAQ Before Exam Appendix Sections - Optional

    I have a question on Chapter 5 for the 2020 Part I Exam. The Chapter 5 Question Set has an appendix starting on page 25. Do we have to study these for the exam? I don't recall these topics in the GARP textbook. Basically anything after page 25 of the question set? - Elton & Gruber Chapter...