The following information is available for the Trumark Fund:
　　The Trumark Fund has an average annual return of 12 percent over the last five years.
　　Trumark has a beta value of 1.35.
　　Trumark has a standard deviation of returns of 16.80 percent.
　　During the same time period, the average annual T-bill rate was 4.5 percent.
　　During the same time period, the average annual return on the S&P 500 portfolio was 18 percent.
　　What is the Sharpe ratio for the Trumark Fund?
　　A. 5.56.
　　B. 0.80.
　　C. 0.45.
　　D. 7.50.
　　Answer:C
　　Sharpe Ratio = Sj = (Rj – RF) / σj  = (12 - 4.50) / 16.80 = 0.45