NO.PZ2018053101000034
问题如下:
A significant challenge to investingin timber is most likely its:
选项:
A.high correlation with other asset classes.
B.dependence on an international competitivecontext.
C.return volatility compounded by financialmarket exposure.
解释:
Bis correct. A primary risk of timber is the international competitivelandscape. Timber is a globally sold and consumed commodity subject to worldtrade interruptions. So the international context can be considered one of itsmajor risk factors.
Ais incorrect because timberland offers an income stream based on the sale oftrees, wood, and other timber products that has not been highly correlated withother asset classes.
C is incorrectbecause investors are interested in timber because of its global nature(everyone requires shelter), the current income generated from the sale of thecrop, inflation protection from holding the land, and its safe havencharacteristics (it offers some insulation from financial market volatility).
用排除法知道bb是正确选项,为什么全球都有会是challenge