NO.PZ2018120301000035
问题如下：
A
Radford School Board member has stated that she prefers a bond portfolio
structure that provides diversification over time, as well as liquidity. In
addressing the board member’s inquiry, Hui examines a bullet portfolio, a
barbell portfolio, and a laddered portfolio.
Which portfolio structure should Hui recommend that would satisfy the school board member’s preference?
选项：
A.Bullet portfolio
B.Barbell portfolio
C.Laddered portfolio
解释：
Correct Answer: C
C is correct. The laddered approach provides both diversification over time and liquidity. Diversification over time offers the investor a balanced position between two sources of interest rate risk: cash flow reinvestment and market price volatility. In practice, perhaps the most desirable aspect of a laddered portfolio is liquidity management, because as time passes, the portfolio will always contain a bond close to maturity.
如题。