CFA考试三级模拟试题精选0402-16(附详解)

CFA考试三级模拟试题精选0402-16(附详解）
1、Which new client would most likely be identified as a friendly follower?【单选题】
A.Blake.
B.Neilson.
C.Williamson.
正确答案:C
答案解析:C is correct. Friendly followers are passive investors with low to moderate risk tolerance.
2、【单选题】
A.$343 million.
B.$353 million.
C.$375 million.
正确答案:B
答案解析:B is correct. Lopez would like to reduce the duration of the bond portfolio by 50% from 6 years
3、As a result of Fund 3’s two trades, the portfolio’s active risk most likely:【单选题】
A.decreased.
B.remained unchanged.
C.increased.
正确答案:C
答案解析:C is correct. Active risk is affected by the degree of cross-correlation. The correlation of two
4、Based on the information presented in Exhibit 1, the maximum loss per contract for Strategy B is closest to:【单选题】
A.$20,900.
B.$10,350.
C.$12,850.
正确答案:C
答案解析:The straddle consists of a long call and a long put at a strike price of $1,125. The maximum loss occurs when the index is at $1,125, when the call and put are at the money. The maximum loss = Call premium + Put premium = $80.50 + $48.00 = $128.50. Per the contract, the loss is $100 × $128.50 = $12,850.
5、To carry out the proposed adjustment to the KPM Inc. pension portfolio, the number of S&P 400 MidCap futures Bing would need to sell and the number of Barclays US Aggregate Bond Index futures she would need to buy, respectively, are closest to:【单选题】
A.76 S&P 400 MidCap Futures and 265 Barclays US Bond Futures
B.99 S&P 400 MidCap Futures and 287 Barclays US Bond Futures
C.128 S&P 400 MidCap Futures and 312 Barclays US Bond Futures。