NO.PZ202209060200004702
问题如下：
Who is least likely correct with regard to the measures that clients in Exhibit 1 use when immunizing their liabilities?
选项：
A.Shrewsbury regarding Type I investors
B.Silver regarding Type I, II, III, and IV investors
C.Shrewsbury regarding Type II, III, and IV investors
解释：
SolutionB is correct. Silver is correct in that Type I clients can use a yield statistic for immunizing their liabilities, but he is incorrect in stating that Type II, III, and IV investors can use the same approach. An advantage to knowing the size and timing of cash flows is that yield duration statistics—that is, Macaulay duration, modified duration, money duration, and PVBP—can be used to measure the interest rate sensitivity of the liabilities. With Type II, III, and IV liabilities, a curve duration statistic known as effective duration is needed to estimate interest rate sensitivity. This statistic is calculated using a model for the uncertain amount and/or timing of the cash flows and an initial assumption about the yield curve.
A is incorrect because Shrewsbury is correct regarding Type I clients.
C is incorrect because Shrewsbury is correct regarding II, III, and IV clients.
请问type 234这里说要用curve stats不是对的吗
