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安宝123 · 2019年07月24日

问一道题:NO.PZ2015121801000073 [ CFA I ]

问题如下图:

选项:

A.

B.

C.

解释:

题目有点没懂,想知道题目里面higher,greater这种断句怎么断?

1 个答案

Wendy_品职助教 · 2019年07月24日

Compared to the efficient frontier of risky assets, the dominant capital allocation line( has higher rates of return for levels of risk greater than the optimal risky portfolio) because of the investor’s ability to:

括号里面全部是the dominant capital allocation line的定语

解题思路:

这道题的考点是CAL的定性表述和两基金分离定律,关键是要读懂题目和判断考点。

dominate是优于、胜过的意思。这道题目问的是CAL上能获得比切点(optimal risky portfolio)还高的return是因为什么?

CAL切点的右上方的组合是borrowing portfolio,通过向银行借钱投资optimal risky portfolio,能获得比切点(optimal risky portfolio)还高的return。

易错点分析:这道题有两个难点,首先,有些同学没有读懂题干的意思,不知道题目在说什么。其次,没有想到考点是什么。日常练习的时候遇到定性的题目,可以多读几遍题目,慢慢熟悉协会的定性表述,这是我们要逐渐培养的技能。

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