NO.PZ2022122801000003
问题如下：
Fox is in the process of hiring
an asset allocation analyst and has just completed interviewing two candidates,
Ambrose Kelly and Catherine Trainor, for the position. The interviews were
directed around the case study of Jane Lennon, a fictitious client, described
in Exhibit 1.
Exhibit 1 Case Study of
Jane Lennon
Fox told the
candidates to assume that Lennon would use sub-portfolios to achieve her
aspirational goals and asked them to identify which of the sub-portfolios is in
the best position to tolerate the greatest risk exposure.
Which
of the sub-portfolios dedicated to Lennon’s aspirational goals is in the best
position to tolerate the greatest risk exposure? The one dedicated to:
选项：
A.Everett’s education B. Marshall’s trust
University endowment
解释：
A is correct. Both
of the funds planned for the trust and university endowment represent an
imminent need (immediate for the trust and within two years for the endowment).
The funding needed for education, however, extends over the longest time
horizon, possibly as long as 8 to 10 years. Thus, its sub-portfolio would be in
the best position to take on the greatest risk.
B is incorrect.
Although the special needs trust for Marshall will provide benefits for his entire
life, and therefore has a long-time horizon, from Lennon’s perspective it
requires immediate funding and should be very liquid and bear little risk.
C is incorrect.
Funding of the university endowment involves a short-term time horizon (within
two years) so it should bear little risk.
教育需求最能承受风险？
