NO.PZ201805280100000302
问题如下：
A broker proposes to Young three portfolios, shown in Exhibit 1. The broker also provides Young with asset class estimated returns and portfolio standard deviations in Exhibit 2 and Exhibit 3, respectively. The broker notes that there is a $500,000 minimum investment requirement for alternative assets. Finally, because the funds in the money market account are readily investible, the broker suggests using that account only for this initial investment round.
Young wants to earn at least 6.0% after tax per year, without taking on additional incremental risk. Young’s capital gains and overall tax rate is 25%.
Determine which proposed portfolio most closely meets Young’s desired objectives. (Circle one.) Justify your response.
选项：
解释：
老师，请问下为什么这里答案里默认Municipal Bond是免税的呀？如果考试遇到我们也要做这种假设吗？
