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2020年CFA考试《CFA三级》考试共题,分为。小编为您整理Fixed-Income Portfolio Management (2)5道练习题,附答案解析,供您备考练习。
1、【单选题】
A.Yes
B.No, the bond price should decrease.
C.No, the bond price should increase.
正确答案:B
答案解析:B is correct. An increase in interest rates results in a decrease in the bond price. An increase in the credit
2、【单选题】
A.Component A +1 sd; Component B +1 sd; Component C +1 sd
B.Component A +1 sd; Component B –1 sd; Component C +1 sd
C.Component A –1 sd; Component B +1 sd; Component C +1 sd
正确答案:B
答案解析:B is correct. A roughly parallel shift in all yields will be generated by a combination of: +1 standard deviation “shift”
3、Seymour is least likely correct with respect to which risk regarding investing in emerging market debt?【单选题】
A.Risk 1
B.Risk 3
C.Risk 2
正确答案:B
答案解析:The statement for Risk 3 is incorrect. Emerging market countries, in fact, have access to lenders on the world stage, such as the International Monetary Fund and the World Bank.
4、【单选题】
A.a carry trade.
B.a barbell structure.
C.riding the yield curve.
正确答案:C
答案解析:C is correct. Last year, McLaughlin expected the yield curve to be stable over the year. Riding the yield curve is a strategy
5、Based on Delta's expectations regarding currencies, and assuming that interest rate parity holds, should Delta most likely recommend using forward contracts to hedge the portfolio's British pound exposure?【单选题】
A.No, because the euro is expected to depreciate by more than 0.35%
B.Yes
C.No, because the euro is expected to appreciate by more than 0.35%
正确答案:B
答案解析:Using interest rate parity, the euro is expected to depreciate by 3.25% – 2.50% = 0.75%. Delta's strategists believe that the euro will depreciate by only 0.35%. Based on expected returns alone, Delta should hedge the currency risk using a forward contract and lock in a 0.75% gain in British pounds.
What are the indices for a skewed distribution?:What are the indices for a skewed distribution?
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
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