The simplest application of assigning a beta to an individual project is called a "pure play," in which a manager finds the beta of a firm whose sole business is similar to the project in question and assigns that beta to the project.

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This statement is true. A pure play is a common method of assigning beta to an individual project, in which the beta of a similar company is used to determine the risk level of the project.

The Simplest Application of Assigning a Beta to an Individual