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EvelynYu · 2024年10月24日

C选择

NO.PZ2021090805000005

问题如下:

Johnson attended a wealth lecture where the presenter mentioned an economic balance sheet compared with a traditional balance sheet. Johnson did not recognize the presenter's comments in this regard, and the presenter's comments were as follows:

    • Real estate can be described as a personal asset, an investment asset, and a mixed asset
    • Financial capital consists of tangible and intangible assets, both the vested and unvested portions of an employer pension plan.
    • Individuals with established income records in the middle of their career typically have a higher value of human capital relative to overall economic wealth that individuals in the early stages of their career.
    Which of the presenter's comments ranking economic and traditional balance sheets is most accurate?

    选项:

    A.

    The comment about human capital

    B.

    The comment about financial capital

    C.

    The comment about real estate

    解释:

    C is correct. Personal assets are consumed, while investment assets are held to increase value and provide funding for future consumption. Some assets, such as real estate, can be described as "mixed assets" because they can be used as both personal assets (shelter) and investment assets (providing funds for retirement).

    B is incorrect. Financial capital includes the tangible and intangible assets (outside of human capital) owned by an individual or household. Financial capital would include the vested portion but not the unvested portion of an employer pension plan.

    A is incorrect. The economic wealth of an individual will undergo changes throughout their lifetime, and the underlying assets that make up these assets will also undergo changes. The total economic wealth of young people is usually dominated by their human capital value, as they do not have much time to save and accumulate financial wealth. As individuals age, they may save some of their income and accumulate financial capital.

    C是正确的。个人资产被消费,而投资资产被持有是为了增加价值和为未来消费提供资金。一些资产,如房地产,可以被描述为“混合资产”,因为它们既可以作为个人资产(住房),也可以作为投资资产(为退休提供资金)。

    B不正确。金融资本包括个人或家庭拥有的有形和无形资产(人力资本以外)。金融资本将包括雇主养老金计划的既得部分,但不包括未得部分。

    A不正确。个人的经济财富在其一生中都会发生变化,构成这些财富的基础资产(underlying assets)也会发生变化。年轻人的总经济财富通常由其人力资本价值主导,因为年轻人没有那么多时间储蓄和积累金融财富。随着个人年龄的增长,他们可能会把部分收入存起来,并积累金融资本。

    为什么C选项正确?职业中期的human capital占比为什么比职业初期要高?谢谢

    1 个答案

    Lucky_品职助教 · 2024年10月25日

    嗨,爱思考的PZer你好:


    同学你好:


    这道题问的是,哪个评论是正确的。


    A选项中,关于human capital的评论是错误的,也就是你提到的,职业中期的human capital占比,比职业初期要低。


    B选相中,“both the vested and unvested portions of an employer pension”意味着在考虑员工的养老金时,需要同时考虑到这两部分:员工已经获得的(既得权益)和尚未获得的(未既得权益)养老金。在评估员工的整体财务状况时,这两部分都是重要的考虑因素。在题目中,B选项的错误在于它将“financial capital”定义为包括了雇主养老金计划的既得和未既得部分,但实际上,未既得部分的养老金并不能算作员工的“financial capital”,因为它还不是员工完全所有的资产。


    C选项是正确。你购买一个房子,如果目的是为了自己住,那它就是personal asset,如果你的目的是为了租出去赚取租金和房产升值,也就是投资目的,那它就是investment asset。当然一个房子也可能会兼有两种目的,比如你的房子比较大,你自己住一半,租出去另一半,或是你的目的是,将来房子升值的时候就买掉,但是再没升值到你理想价位的时候,你就先自己住,这就是mixed asset。

    ----------------------------------------------
    就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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