- CFA Exams
- CFA Level I Exam
- 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 SMB factor represents a:
A. growth return premium.
B. value return premium.
C. small-cap return premium.
Explanation: The SMB is a size (market capitalization) factor.
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