NO.PZ202209060200004701
问题如下:
Shrewsbury is least likely correct on which point?
选项:
A.Point 1
B.Point 2
C.Point 3
解释:
SolutionB is correct. Shrewsbury is incorrect with regard to Point 2. Financing companies that accumulate such assets as loans as a result of their underlying business use ADLs to structure their liabilities in a way that matches the maturities of the assets. In this manner, the debt manager is seeking to minimize interest rate risk by better matching the duration of assets and liabilities. With LDI, the liabilities are given and the assets are managed in a way that considers the structure of the liabilities, as Shrewsbury correctly states in Point 1. An LDI strategy requires that the liabilities be modeled to measure their interest rate sensitivity, as he correctly states in Point 3.
A is incorrect. With LDI, the liabilities are given and the assets are managed in a way that considers the structure of the liabilities, as Shrewsbury correctly states in Point 1.
C is incorrect. An LDI strategy requires that the liabilities be modeled to measure their interest rate sensitivity, as he correctly states in Point 3.
- Point 1: Life-insurance companies and defined benefit (DB) pension schemes both use liability-driven investing (LDI), which is a special form of asset–liability management (ALM).
- In both cases, the liabilities are defined and assets are managed in a way that considers the profile and characteristics of the liability.
请解释,liab不是不确定的吗?谢谢