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Basic Question 4 of 6
During recessions, ______ stocks tend to underperform ______ stocks.
B. large, small
C. non-cyclical, cyclical
A. growth, value
B. large, small
C. non-cyclical, cyclical
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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.

Edward Liu
Learning Outcome Statements
describe the economic factors affecting investment in commercial real estate.
CFA® 2025 Level II Curriculum, Volume 6, Module 37.