九宫格中竖着的A列不用计入吗？

Asset Allocation 2016 Q4 請問考試中這樣寫可以嗎? A 1. We should choose two corner portfolios with the highest sharp ratios, which can synthesize to the required rate of return; they are portfolio 3 and 4. 2. 8.6x – 7.65(1-x) = 8; x = 36.8%; The advisor should allocate 36.8% of capital to portfolio 3 and 63.25% of capital to portfolio 4. B 1. The advisor should suggest the investor to leverage a portfolio with the highest sharp ratio, which is portfolio 4, to achieve the required rate of returns. 2. 7.65x ＋ 0.5(1-x) = 8; x = 1.049. The investor should leverage 1.049 times of portfolio 4. C 1. Unleveraged SAA combines two risky assets together which have a positive correlation and will increase expected volatility. However, leveraged SAA combines a risky asset with a risk-free asset, offering lower expected volatility.

老师，请问这道题对于taxable investor来说，Position A 是浮盈，没有卖掉是不征收realized CG tax ，卖掉Position B怎么抵税？如果不能抵税为什么要卖B?

Asset Allocation 請問實際上考試這樣寫可以嗎? 2017 Q8 A AO 1. The foundation has no liability-like payments, but only minimum spending and an AO approach can minimize the likelihood of decline; ALM 1. There is a fixed amount of EUR 5mn to distribute yearly, which can bee seen as an obligation to pay. B 1. Assets in the same asset class should be homogenous. Private equity and real estate are not the same; 2. Asset classes should be mutually exclusive. Broad EUR fixed income is not different from EUR-denominated government bonds. C 1. Emerging market equities should be added into the current portfolio; 2. Sharpe ratio of new asset class > Sharpe ratio of current portfolio × correlation 0.481 > 0.538 × 0.79 => 0.481 > 0.425 D 1. Because the investment horizon of the foundation is a perpetuity, Monte Carlo is suitable for investment over a multi-period; 2. Monto Carlo can compute a path-dependent terminal value since the foundation is rebalanced every six months.

R2书后题第27题, 关于软美元这个我想请教一下老师. 题目中说道经纪商会将这个新服务获得的一部分好处运用到老的服务上(更高端的服务). 我知道这个行为是符合准则要求的, 但是这个算不算是软美元呢? 因为选项A中说了即便是禁止软美元的账户也可以使用这个新服务.

Asset Allocation 想請問在實際上考試這樣寫可以嗎? 2018 Q9 A. 1. Sazri should recommend portfolio B over portfolio A 2. The expected utility of portfolio B is (3.5%) higher than the expected utility of portfolio A (3.1%). B 1. Sarzi should recommend allocation 2 2. The amount of liability accounts for 80% of the plan. Allocation 2 has 80% of indexed-linked government bonds, which matches the nature of the liability. C 1. Goal 1 should choose module B YTM = 5.0%, PMT = 0, N = 10, FV = $7.5mn; PV = 4,604,349 2. Goal 2 should choose module C YTM = 6.9%, PMT = 0, N = 25, FV = $15mn; PV = 2,829,102 3. Calculating Weighs Module A: 25.7% [(10,000,000 - 4,604,349 - 2,829,102)/ 10,000,000] Module B: 46.0% (4,604,349/10,000,000) Module C: 28.3% (2,829,102/10,000,000)

請問 reading 13 practice problem Q15 假設在實際上考試中，我應該寫下哪些點可以拿到分數呢? Q1. Compared with an MVO approach, weights of global market portfolio are input in a reverse optimization approach. Compared with an MVO approach, allocation of a reverse optimization approach will be more diversified. Q2. Return on Global Bonds = 2.0% ＋ (0.6) (5.5%) = 5.3% Return on US Equities = 2.0% ＋ (1.4) (5.5%) = 9.7% 如果這樣寫可以嗎?

老师你好，有两个有关ethics的问题 1）在第一张图片中，A基金怎么做才不会违规？他怎么去审核才不违规？ 2）有关重大信息：竞争对手的假设才被视为不是重大信息。那这个为什么视为不违规…… 谢谢

老师好，2013年个人IPS第一题（voorts）。题目题干最后一行，说有一个cash reserve。题目正解中没有考虑这个cash reserve，alternate answer里考虑cash reserve了。我想确认，是考虑好还是不考虑好。——老师，我又有一个新的问题，C小问答案里算了cash reserve，那是为什么A小问里的cash flow needs里没有算这部分呢？

老师好，2013年个人IPS第一题（voorts）。题目题干最后一行，说有一个cash reserve。题目正解中没有考虑这个cash reserve，alternate answer里考虑cash reserve了。我想确认，是考虑好还是不考虑好。