13.单选题 已收藏 标记 纠错 Relative to an investor with a steeper indifference curve, the optimal portfolio for an investor with a flatter indifference curve will most likely have: A a lower level of risk and return B a higher level of risk and return C the same level of risk and return 查看解析 上一题 下一题 正确答案B 您的答案A本题平均正确率：52% Modern Portfolio Theory难度：一般 推荐：      答案解析 Because a less risk-averse investor’s highest utility, given the low slope of his indifference curve, is likely to touch the capital allocation line at a point which would represent a portfolio with higher risk and more expected return. 请问：B说 更高的level就是指 更高的承受能力是吗？

11.单选题 已收藏 标记 纠错 The minimum-variance frontier least likely contains all attainable risky assets with the: A highest expected return for a given level of risk. B lowest amount of risk for a given level of return. C highest expected return relative to the risk-free rate. 查看解析 上一题 下一题 正确答案C 您的答案C本题平均正确率：78% Modern Portfolio Theory难度：一般 推荐：      答案解析 The minimum-variance frontier does not account for the risk-free rate. The minimum-variance frontier is the set of all attainable risky assets with the highest expected return for a given level of risk or the lowest amount of risk for a given level of return. 请问：我选对了，因为C说的跟这没关系。但是我想问一下，C说的究竟是什么，可否用图解释一下？

老师哦，这两种的风险是这么理解么。就是euity的话指买房或者买reits，分散化好。但是收益主要来自于rent和买卖价差，没有MBS这种稳定。 因为MBS收益来自于付利息。跟普通bond一样，跟这些固收类投资都挂钩。 所以euity比bond风险大，但分散化效果好。

08.单选题 收藏 标记 纠错 Which of the following statements about risk-averse investors is least accurate? A risk-averse investor: A seeks out the investment with minimum risk, while return is not a major consideration. B will take additional investment risk if sufficiently compensated for this risk. C minimizes risk for the same amount of return. 查看解析 上一题 下一题 正确答案A 您的答案B本题平均正确率：42% Modern Portfolio Theory难度：一般 推荐：      答案解析 Risk-averse investors are generally willing to invest in risky investments, if the return of the investment is sufficient to reward the investor for taking on this risk. 请问： 1.A中while是与此同时的意思吗？没有转折的含义？ 2.B到底是什么意思？will take additional investment risk if sufficiently compensated for this risk.如果能充分补偿这一风险，将承担额外的投资风险。不理解在说什么？

With respect to risk-averse investors, the numerical utility of a risk-free asset is: A the same for all individuals. B positive for risk-averse investors. C equal to zero for risk seeking investors. 查看解析 上一题 下一题 正确答案A 您的答案B本题平均正确率：39% Modern Portfolio Theory难度：一般 推荐：      答案解析 A risk-free asset has a variance of zero and is not dependent on whether the investor is risk neutral, risk seeking or risk averse. That is, given that the utility function of an investment is expressed as Where A is the measure of risk aversion, then the sign of A is irrelevant if the variance is zero (like that of a risk-free asset). 请问：B说为正，这时的U=Rf,所以为正吧，Rf会为负？

reading31的23题，D公司的计算结果是1.5076，行业的计算结果是1.52，D公司的略小于行业，我选了B低估，但答案是c，这种题目比较尴尬，考试应该不会出现这种模棱两可的数字吧？

老师好，我想请问一下这道题。这道题为什么不能用D4*(1+g)/(r-g) 的方法算出来P4， 然后再折现回0时点呢，为什么要直接算P3，谢谢

老师，REOC是买房地产公司股票？ REIT是买基金，资金投资房地产？

这题的答案意思是：对于这组数据的概率分布是任意什么分布都行，只要他的样本容量大于等于30，并且知道其均值与方差，就可判断这个分布是正态分布。是这样理解吗？

老师哦，不太懂为什么REITs比MBS好。 因为MBS就是 bond，风险比REIT高？ 另外也不太明白private 的debt投资啥意思？就是私下出借钱买房？