掃碼下載APP
及時接收最新考試資訊及
備考信息
學習是一個不斷積累的過程,每天學習一點,每天進步一點!為了幫助大家更高效地備考2021年CFA考試,正保會計網校每日為大家上新CFA習題供大家練習。讓網校與您一起高效備考2021年CFA考試,夢想成真!
Questions 1:
Which of the following statements concerning the historical record of alternative investments is most likely correct?
A 、The exclusion of returns of funds that have been liquidated leads to an upward bias in index performance.
B 、The use of appraised values instead of market prices leads to an upward bias in volatility.
C 、The inclusion of previous return data for funds that enter the index leads to a downward bias in index performance.
Questions 2:
High-water marks are typically used when calculating the incentive fee on hedge funds. They are most likely used by clients to:
A 、avoid prime brokerage fees.
B、 avoid paying twice for the same performance.
C 、claw back the management fees.
A is correct. The exclusion of returns of funds that have been liquidated is called survivorship bias. It is most likely that only poor performers are eliminated and thus reported returns are artificially inflated.
B is incorrect. The use of appraised values instead of market prices leads to a downward bias in volatility.
C is incorrect. The inclusion of previous return data for funds that enter the index is called backfill bias. It leads to an upward bias in index performance.
B is correct. High-water marks help clients avoid paying twice for the same performance. When a hedge fund’s value drops, the manager will not receive an incentive fee until the value of the fund returns to its previous level.
A is incorrect because high-water marks are not linked to prime brokerage fees.
C is incorrect because management fees are paid irrespective of returns.
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。而人們經常只看到“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,即使是一點點的進步,大家一定可以成為人人稱贊的“牛人”。
Copyright © 2000 - www.electedteal.com All Rights Reserved. 北京正保會計科技有限公司 版權所有
京B2-20200959 京ICP備20012371號-7 出版物經營許可證 京公網安備 11010802044457號
套餐D大額券
¥
去使用 主站蜘蛛池模板: 精品无码久久久久久国产 | 最近的2019中文字幕免费一页 | 欧美天堂一区 | 欧美三区 | 99精品国产免费久久久久久按摩 | 欧美日韩精品二区 | 色婷婷一区二区三区 | 韩日一区二区 | 国产一区精品 | 欧美激情在线一区 | 91精品一区二区三区久久久久久 | 国产精品1区2区 | 亚洲免费综合 | 天天综合久久 | 中文字幕国产视频 | 国产一区二区三区四 | 99久久夜色精品国产亚洲96 | 久久久久亚洲av成人毛片韩 | 欧美精品成人一区二区三区四区 | 免费国产视频 | av老司机在线观看 | 欧美在线视频网 | 亚洲三区在线观看 | 精品综合网 | 久草手机在线观看 | √最新版天堂资源网在线 | 99精品福利视频 | 欧美日韩中文在线观看 | 91精品国产色综合久久不卡蜜臀 | 99精品免费久久久久久久久日本 | 在线成人av| 成人欧美一区二区三区在线播放 | 欧美成人精精品一区二区频 | 操操操操操 | 国产精品久久久久久久久久久久午夜片 | 91精品国产九九九久久久亚洲 | 国产一区二区三区久久 | 夜夜操导航 | 久久黄色视 | 精品久久久久久久久久久久久久久 | 久久免费视频在线观看 |