"Portfolio Management":Expected return

來源: 正保會計(jì)網(wǎng)校編輯：小鞠橘桔 2020/11/17 09:52:34　字體：大小

學(xué)習(xí)是一個(gè)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 return-generating model that provides an estimate of the expected return of a security based on such factors as earnings growth and cash flow generation is best described as a:

A、 market factor model.

B 、fundamental factor model.

C 、macroeconomic factor model.

Questions 2:

The stock of GBK Corporation has a beta of 0.65. If the risk-free rate of return is 3% and the expected market return is 9%, the expected return for GBK is closest to:

A 、10.8%.

B、 3.9%.

C、 6.9%.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. A return-generating model based on such factors as earnings growth and cash flow generation is a fundamental factor model.

A is incorrect. In a market model, the factor is the market return.

C is incorrect. In a macroeconomic factor model, appropriate factors would be economic factors such as the interest rate and the inflation rate.

【Answer to question 2】C

【analysis】

C is correct.

Portfolio Management:Expected return

A is incorrect. It is incorrectly calculated as 0.03 + 0.65 × (0.09 + 0.03) = 0.108.

B is incorrect. It is incorrectly calculated as E(RGBK) = 0.65 × (0.09 – 0.03) = 0.039.

成功=時(shí)間+方法，自制力是這個(gè)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”。更多CFA考試資訊，點(diǎn)擊了解>

上一篇："Portfolio Management":Risk budget

下一篇："Portfolio Management":Portfolio Risk an...