没理解做题思路

NO.PZ2023010903000064 问题如下 For eafun risk targets have been assignethallow the portfolio managers some flexibility to exercise their perceiveskillsets. Skills inclu stopicking, factor exposure, ansector rotation. Baseon only the ta shown in Exhibit 2, Langhintifies the skill applieeamanager.Among the fun shown in Exhibit 2, whione is most likely manageusing a versifiemulti-factor investor approach? FunX FunY FunZ The risk targets for FunZ are most likely those of a manager using a versifiemulti-factor approach. Low single-security risk of 1% anmost overall portfolio risk of 4%, combinewith flexibility on sector risk, monstrate a highly versifieportfolio thprimarily emphasizes factor exposures. FunX hrisk targets consistent with emphasis on stopicking—namely, high active risk, high exposure to risk from a single security, anlow sector viations. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations.A is incorrect. FunX hrisk targets consistent with emphasis on stopicking— namely, high active risk, high exposure to risk from a single security, anlow sector viations.B is incorrect. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations. 老师，在别的答案中看到“sector rotator”这个策略，但是讲义图上没有，可以大体讲一下特征吗？以及如果在图上它的位置？

NO.PZ2023010903000064 问题如下 For eafun risk targets have been assignethallow the portfolio managers some flexibility to exercise their perceiveskillsets. Skills inclu stopicking, factor exposure, ansector rotation. Baseon only the ta shown in Exhibit 2, Langhintifies the skill applieeamanager.Among the fun shown in Exhibit 2, whione is most likely manageusing a versifiemulti-factor investor approach? FunX FunY FunZ The risk targets for FunZ are most likely those of a manager using a versifiemulti-factor approach. Low single-security risk of 1% anmost overall portfolio risk of 4%, combinewith flexibility on sector risk, monstrate a highly versifieportfolio thprimarily emphasizes factor exposures. FunX hrisk targets consistent with emphasis on stopicking—namely, high active risk, high exposure to risk from a single security, anlow sector viations. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations.A is incorrect. FunX hrisk targets consistent with emphasis on stopicking— namely, high active risk, high exposure to risk from a single security, anlow sector viations.B is incorrect. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations. 有看到之前的回答“只是multi-factor这种因子的偏离程度，又比sector rotator 小一些”那是否可以理解为 FunY 属于sector rotator？

NO.PZ2023010903000064 问题如下 For eafun risk targets have been assignethallow the portfolio managers some flexibility to exercise their perceiveskillsets. Skills inclu stopicking, factor exposure, ansector rotation. Baseon only the ta shown in Exhibit 2, Langhintifies the skill applieeamanager.Among the fun shown in Exhibit 2, whione is most likely manageusing a versifiemulti-factor investor approach? FunX FunY FunZ The risk targets for FunZ are most likely those of a manager using a versifiemulti-factor approach. Low single-security risk of 1% anmost overall portfolio risk of 4%, combinewith flexibility on sector risk, monstrate a highly versifieportfolio thprimarily emphasizes factor exposures. FunX hrisk targets consistent with emphasis on stopicking—namely, high active risk, high exposure to risk from a single security, anlow sector viations. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations.A is incorrect. FunX hrisk targets consistent with emphasis on stopicking— namely, high active risk, high exposure to risk from a single security, anlow sector viations.B is incorrect. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations. 本题只能根据原版书例题记忆知识点吗？是否有其他的判断思路？不理解为什么因子分散化还要选择行业偏离较大的，如果因子分散化了不是应该选择行业偏离小的吗

NO.PZ2023010903000064问题如下 For eafun risk targets have been assignethallow the portfolio managers some flexibility to exercise their perceiveskillsets. Skills inclu stopicking, factor exposure, ansector rotation. Baseon only the ta shown in Exhibit 2, Langhintifies the skill applieeamanager.Among the fun shown in Exhibit 2, whione is most likely manageusing a versifiemulti-factor investor approach? FunXFunY FunZ The risk targets for FunZ are most likely those of a manager using a versifiemulti-factor approach. Low single-security risk of 1% anmost overall portfolio risk of 4%, combinewith flexibility on sector risk, monstrate a highly versifieportfolio thprimarily emphasizes factor exposures. FunX hrisk targets consistent with emphasis on stopicking—namely, high active risk, high exposure to risk from a single security, anlow sector viations. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations.A is incorrect. FunX hrisk targets consistent with emphasis on stopicking— namely, high active risk, high exposure to risk from a single security, anlow sector viations.B is incorrect. FunY hrisk targets consistent with emphasis on sector rotation—namely, high active risk ana high toleranfor sector viations. 如题， a high toleranfor sector viations是指与BM偏离程度高吗？因为偏离程度高所以是factor weighting？