CFA LevelⅠ:至優(yōu)投資組合；資產(chǎn)收益度量

來源: 正保會計網(wǎng)校編輯：大耳朵圖圖 2020/09/08 14:40:17　字體：大小

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1、 If Investor A has a lower risk aversion coefficient than Investor B, on the capital allocation line, will Investor B's optimal portfolio most likely have a higher expected return?

A. No, because Investor B has a higher risk tolerance

B. No, because Investor B has a lower risk tolerance

C. Yes

2、The return measure that best allows one to compare asset returns earned over different length time periods is the:

A. annualized return.

B. net portfolio return.

C. holding period return.

查看答案解析

【答案】

【解析】

Investor B has a higher risk aversion coefficient, thus a lower risk tolerance and a lower expected return on the capital allocation line.

查看答案解析

【答案】

【解析】

The annualized return is an average return measure that can be calculated using return data for a period that is shorter (or longer) than one year. In many cases, it is most convenient to annualize all available returns in order to compare returns when the time periods during which a return is earned or computed vary. It reflects the return that would be earned over a one-year period, assuming that money can be reinvested repeatedly while earning a similar return.

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