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Which one of the following statements about mark-to-model valuation is correct?
Mark-to-model valuation is used for exchange-traded positions to ensure correct pricing.
Asset managers are not allowed to use mark-to-model valuation.
Mark-to-model valuation is used for complex financial instruments; it is always accurate and in line with potential tradable prices.
Mark-to-model valuation refers to prices determined by financial models, rather than actual market prices.
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