vvwaxx · 2024年12月25日
* 问题详情，请 查看题干
NO.PZ201812020100000404
问题如下：
The two-bond hypothetical portfolio’s immunization goal is to lock in a rate of return equal to:
选项：
A.9.55%.
B.9.85%.
C.10.25%
解释：
B is correct.
Immunization is the process of structuring and managing a fixed-income portfolio to minimize the variance in the realized rate of return and to lock in the cash flow yield (internal rate of return) on the portfolio, which in this case is 9.85%.
不明白考的点是什么，可以用中文解释一下吗
NO.PZ201812020100000404 问题如下 The two-bonhypotheticportfolio’s immunization gois to loin a rate of return equto: 9.55%. 9.85%. 10.25% B is correct. Immunization is the process of structuring anmanaging a fixeincome portfolio to minimize the varianin the realizerate of return anto loin the cash flow yield (internrate of return) on the portfolio, whiin this case is 9.85%. 老师，我能理解matcash flow yiel对的，但是，针对这题和前面有个题的结论有点混淆。1.之前有个题给了下面这样的结论macaulration衡量pririsk, investment risk衡量reinvestment riskwhen Macaulration=investment horizon, expectereturn=YTM2.那么这道题为什么不是matYTM, 而是matcash flow yiel好呢？这2点分别是什么情况下使用，感觉我好像使用两个结论的情景没有区分清楚。什么情况下应该matYTM？什么情况下又应该matcash flow yiel
NO.PZ201812020100000404问题如下 The two-bonhypotheticportfolio’s immunization gois to loin a rate of return equto:9.55%.9.85%.10.25% B is correct. Immunization is the process of structuring anmanaging a fixeincome portfolio to minimize the varianin the realizerate of return anto loin the cash flow yield (internrate of return) on the portfolio, whiin this case is 9.85%. 如果是单债，YTm是ok的对吗。这里用average YTM 这个表述错了，，是这么理解吗
NO.PZ201812020100000404问题如下 The two-bonhypotheticportfolio’s immunization gois to loin a rate of return equto:9.55%.9.85%.10.25% B is correct. Immunization is the process of structuring anmanaging a fixeincome portfolio to minimize the varianin the realizerate of return anto loin the cash flow yield (internrate of return) on the portfolio, whiin this case is 9.85%. YTM不就是内部收益率吗？
NO.PZ201812020100000404
9.85%. 10.25% B is correct. Immunization is the process of structuring anmanaging a fixeincome portfolio to minimize the varianin the realizerate of return anto loin the cash flow yiel(internrate of return) on the portfolio, whiin this case is 9.85%. 这道题，two bonportfolio是immunization的负债还是资产没看懂，是要用它来immunize 负债吗？如果是，不是应该用它来匹配liability的yiel？为什么是lock它自己的yiel能不能翻译一下这段话？
