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Marina_0122 · 2022年07月07日

这题有点没看懂 请问是哪个知识点 能详细解释一下吗

NO.PZ2022052301000008

问题如下:

Arzac develops a “Know Your Client” process, including the design of several tools she can use to get to know her client’s investment objectives and risk profile. One of these tools is a risk tolerance questionnaire. Arzac’s questionnaire contains inquiries relating to mean–variance optimization and the maximum loss the client would be willing to tolerate each year. She includes a few other questions about the client’s confidence in his own abilities as an investor.

The “Know Your Client” tools Arzac develops for new clients will most likely cause an unfavorable investor–adviser relationship for which investor type?

选项:

A.

Active Growth

B.

Active aggressive

C.

Passive moderate

解释:

Because risk analysis is a cognitive process, the risk tolerance questionnaire may fail investors with an emotional bias—those who are likely to view risk as an emotional process rather than a cognitive process. Risk tolerance questionnaires will likely work better for investors with a cognitive bias because they are likely to think about risk more logically. Therefore, Arzac’s questionnaire will likely fail Active Aggressive investor types because of their primary emotional bias. Consequently, the relationship between

the investor and the adviser may not be favorable.

A is incorrect because an Active Growth investor type has a primary cognitive bias. Investors with a cognitive bias look at risk as a cognitive process, not an emotional process.

C is incorrect because a Passive Moderate investor type has a primary cognitive bias. Investors with a cognitive bias look at risk as a cognitive process, not an emotional process.

这题有点没看懂 请问是哪个知识点 能详细解释一下吗

3 个答案

王琛_品职助教 · 2022年08月09日

嗨,努力学习的PZer你好:


@哈喽

active growth. passive moderate.好像基础班里没遇到过,是PP,FF,II,AA的另外名称吗?怎么对应的,要记住吗?

同学好,我已在同学单独提问的页面详细答复哈,请参考:https://class.pzacademy.com/qa/105955

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努力的时光都是限量版,加油!

哈喽 · 2022年08月08日

active growth. passive moderate.好像基础班里没遇到过,是PP,FF,II,AA的另外名称吗?怎么对应的,要记住吗?

王琛_品职助教 · 2022年07月07日

嗨,从没放弃的小努力你好:


1

考点有三个:第一个是顾问客户关系中的传统风险容忍调查的限制;第二个是 BIT 四类投资者的主要偏差类型;第三个是 BIT 四类投资者的别名

首先,因为风险分析是一个偏认知的过程,所以适用于 cognitive bias 的客户,不适用于 emotional bias 的客户

其次,BIT 的四类投资者中,PP 和 AA 都是 emotional bias 为主;FF 和 II 都是 cognitive bias 为主

最后,选项 A 的 Active Growth 就是 II,不选;选项 C 的 Passive moderate 就是 FF,不选

2

这种考法,其实老师在强化班中有强调过哈

请参考强化班墨迹版讲义 P34

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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