问题如下：
The number of truly independent decisions Manager A would need to make in order to earn her expected active portfolio return this year is closest to:
选项：
A.8.
B.11.
C.69.
解释：
C is correct. The breadth (number of truly independent decisions made each year by the manager) required to earn the expected portfolio active return of 2.5% per year is approximately 69 decisions, calculated as follows:
E (RA) = IC × √BR × σRA × TC
E (RA) = 0.15 × √BR × 5% × 0.40 = 2.5%
2.5% = 0.15 × √BR × 5% × 0.40
BR = 69.44
请问三级还会考这个吗？这不是二级的知识点么。
