"Alternative Investments":hedge fund

下載正保會計(jì)網(wǎng)校APP 訂閱最新報(bào)考消息

來源: 正保會計(jì)網(wǎng)校編輯：小鞠橘桔 2021/02/25 10:15:12　字體：大小

選課中心

多樣班次滿足需求

選課中心

資料專區(qū)

干貨資料助力備考

資料專區(qū)

報(bào)考指南

報(bào)考條件一鍵了解

報(bào)考指南

學(xué)習(xí)是一個不斷積累的過程，每天學(xué)習(xí)一點(diǎn)，每天進(jìn)步一點(diǎn)！為了幫助大家更高效地備考2021年CFA考試，正保會計(jì)網(wǎng)校每日為大家上新CFA習(xí)題供大家練習(xí)。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！

Questions 1:

A least likely reason for investors to include commodity derivatives in their investment portfolios is:

A 、commodity-related stocks’ positive correlation with the overall equity market.

B 、it eliminates the need to understand the physical supply chain and general supply–demand dynamics of a commodity.

C、 the tendency for commodity prices to be positively correlated with inflation.

Questions 2:

Hedge funds are least likely to have restrictions concerning:

A、 the withdrawal of invested funds.

B 、the use of derivatives.

C 、the number of investors in the fund.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Because the prices of commodity derivatives are, to a significant extent, a function of the underlying commodity prices, it is important to understand the physical supply chain and general supply–demand dynamics of a commodity.

A is incorrect because commodity-related stocks tend to exhibit a high degree of correlation with the overall equity market. High correlation means low diversification benefits, which reduces the appeal of including this type of investment in a portfolio so investors may be drawn to commodity derivatives that have a lower correlation with the overall equity market.

C is incorrect because commodity prices tend to be positively correlated with inflation.

【Answer to question 2】B

【analysis】

B is correct. The use of derivatives is a typical feature of contemporary hedge funds.

A is incorrect. Hedge funds tend to impose restrictions on the withdrawal of funds.

C is incorrect. Investing in hedge funds is open only to a limited number of investors.

成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習(xí)。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習(xí)，即使是一點(diǎn)點(diǎn)的進(jìn)步，大家一定可以成為人人稱贊的“牛人”。

點(diǎn)擊了解更多CFA考試資訊>>

點(diǎn)擊了解CFA無憂直達(dá)班>>