The Core Rulebook page 151 (Activation) implies that the bolt power can miss:
A character activates a power by picking a target within Range and making an arcane skill roll. A roll less than 4 means the power doesn't activate.
A roll of 4 or higher means the power activates and consumes all the Power Points allocated to it, even if it misses the target (such as with bolt), or the defender resists.
So, you make an arcane skill roll, but the power (bolt specifically) can still miss even after the roll scores a hit. How can that be?
Let's see the bolt power description:
Bolt sends damaging bursts of energy, streaks of holy light, or shards of matter toward one’s foes.
There are no Range penalties, but the arcane skill roll is affected by Cover, Illumination, and all other usual penalties.
The damage of the bolt is 2d6, or 3d6 with a raise.
The power description does not say something like "roll Shooting to make a ranged attack", so you aren't supposed to make another roll. Instead, the arcane skill roll seems to be the very roll the caster makes for the ranged attack. So, if the arcane skill roll was successful, how can this attack miss?