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tracyH · 2020年08月27日

问一道题:NO.PZ2020020202000023

问题如下:

An analyst reviews the entire DB Plan’s characteristics, asset allocation, and benchmark. He observes that the Plan’s benefits are no longer indexed to inflation and that the workforce is, on average, younger than it was when the current fund allocations were approved. The analyst recommends a change in the Plan’s asset allocation policy. The Plan should use:

选项:

A.

a liability-based benchmark.

B.

an absolute return benchmark.

C.

a manager universe benchmark.

解释:

A is correct.

Based on the Plan’s type (defined benefit) and its characteristics as detailed in the final section of the analyst’s report, a liability-based benchmark is most appropriate. Liability-based benchmarks are used most frequently when assets are required to pay a specific future liability, as in a defined benefit pension plan.

你好,请问这边“workforce is, on average, younger than it was ” 不应该意味着liability变小了吗? 虽然后面两个选项也搭不上边。

C选项是定位在讲义的哪里呢?谢谢!

mino酱是个小破货 · 2022年05月22日

变大了,但是不用现在付。员工年轻,意味着工作年限n变大了,累计更多

1 个答案

吴昊_品职助教 · 2020年08月27日

同学你好:

这道题只要一看到养老金,对应的就是liability-based,中间的文字不太需要太关注。因为大多数DB plan都是用liability-based benchmark,就算DB的特征有所变化,但是还是得用liability-based benchmark,谈不上change。然而。题目非要我们recommends a change,个人认为原版书这道题出的不是很好,我们也不用太较真了。只要知道养老金对应liability-based这个结论即可。

选项C,对应知识点在基础班讲义P151页。

005 · 2023年08月22日

请问员工年轻,养老金流动性需求降低,理论上是不是可以追求更高的return?选了an absolute return benchmark...

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NO.PZ2020020202000023问题如下analyst reviews the entire Plan’s characteristics, asset allocation, anbenchmark. He observes ththe Plan’s benefits are no longer inxeto inflation anththe workforis, on average, younger thit wwhen the current funallocations were approve The analyst recommen a change in the Plan’s asset allocation policy. The Plshouluse:A.a liability-basebenchmark.B.absolute return benchmark.C.a manager universe benchmark.A is correct.Baseon the Plan’s type (finebenefit) anits characteristitailein the finsection of the analyst’s report, a liability-basebenchmark is most appropriate. Liability-basebenchmarks are usemost frequently when assets are requireto pa specific future liability, in a finebenefit pension plan.C请问为什么错,里面有提到average

2023-06-20 21:36 1 · 回答

请问老师,题目问的是recommen个change,哪里体现出原来不是liability-base?答案里也说了,大多数都是用liability-basebenchmark了,这个题目如果没说之前用的不是liability-base应该这个可以默认为是大多数情况,这个就不应该算是个change啊。是那个no longer inxeto inflation有什么特殊意思吗?或者其他信息我没看透?

2020-03-26 13:12 1 · 回答

absolute return benchmark. a manager universe benchmark. A is correct. Baseon the Plan’s type (finebenefit) anits characteristitailein the finsection of the analyst’s report, a liability-basebenchmark is most appropriate. Liability-basebenchmarks are usemost frequently when assets are requireto pa specific future liability, in a finebenefit pension plan. 哪里看出来是的?

2020-02-14 15:03 1 · 回答