2020年CFA考试《CFA三级》考试共题，分为。小编为您整理Asset Allocation and Related Decisions in Portfolio Management (2)5道练习题，附答案解析，供您备考练习。

1、【单选题】

A.de-risking.

B.systematic tactical asset allocation.

C.discretionary tactical asset allocation.

正确答案:B

答案解析:B is correct. Using rules-based, quantitative signals, systematic tactical asset allocation 

2、【单选题】

A.Hindsight bias

B.Availability bias

C.Illusion of control

正确答案:B

答案解析:B is correct. Availability bias is an information-processing bias in which people take a 

3、【单选题】

A.typically leads to return distributions that are positively skewed.

B.should not lead to higher returns because FX markets are efficient.

C.often leads to higher returns through carry trades, but comes with higher 

正确答案:C

答案解析:C is correct. Emerging market currencies are often the investment currencies in the carry 

4、【单选题】

A.write a straddle.

B.buy a put option.

C.use a long NDF position.

正确答案:C

答案解析:C is correct. Based on predicted export trends, Subscriber 2 most likely expects the 

5、【单选题】

A.cash.

B.bonds.

C.equities.

正确答案:A

答案解析:A is correct. The changing character of liabilities through time affects the asset allocation