- CFA Exams
- CFA Exam: Level II 2021
- Study Session 9. Equity Valuation (1)
- Reading 25. Return Concepts
- Subject 4. The required return on equity - other models
CFA Practice Question
In the Fama-French model, the high book-to-market portfolio shares represent a:
B. value bias.
C. growth bias.
A. size bias.
B. value bias.
C. growth bias.
Correct Answer: B
They are equivalent to low P/B shares.
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