Rebalance and Reconstitution What's the difference？：Rebalance and Reconstitution What's the difference？

Portfolio Expected Return and Variance of Return：Return,RjFirst= 7.50 + 12.50 + 3.75 = 23.75.

Management Commentary or Management’s Discussion and Analysis：1 the nature of the business;2 management’s objectives and strategies:information.Off-balance-sheet obligations and about contractualreported financial results.

Shifts in the AD and AS curves and Equilibriums：A decrease in AD lowers real GDP:contractions are associated with rising inflation and interest rates.

Deficits and the Fiscal Stance：economy was at full employment or full potential output.

The Production Function and Potential GDP：labor:Two-factor production functionKdecline essentially to zero and there would be no long-term economic growth.result

Portfolio Expected Return and Variance of Return：= 8112 = 9. Thus:RjB.C.FirstEXY = EXEY

Deficits and the National Debt：Budget;Government revenue includes tax revenues net of transfer payments;An increase in a budget surplus would be associated with contractionary fiscal policy:uses.

What are the responsibilities of the members in reference to the CFA Institute?：Once accepted as a member:每年交述职报告和年费but must not over promise the competency and future investment results.Case

What members and candidates should notice in CFA examinations?：or security of the CFA examinations.（不能恶心CFA），考试不能作弊:考试内容要保密:A. No.:Responsibilities as a CFA Institute Member.right④Case

How to understand the guidance for Standards I–VII?：A.Promote financial integrity ad seek to prevent sand punish abuses in the financial markets,

What are the ethics and trust in the investment profession？：Global investment performance standards（GIPS）= 比例低，也并非所有的不道德都是违法君子有所不为的决策是更好的决策更符合stakeholder利益的决策