With respect to an index used in calculating the beta from, Project Management

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With respect to an index used in calculating the beta from

1. What is meant by the "two beta trap"?

2. With respect to an index used in calculating the beta from the SharpeLintner CAPM and the Sharpe single-index factor model, in which case is the following proposition true: "The ideal index is an efficient portfolio."

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Project Management: With respect to an index used in calculating the beta from

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