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问一道题：NO.PZ2019100902000021 [ FRM II ]

问题如下：

Which of the following statements is correct?

选项：

In credit transactions, the borrower has much better and more information about his financial state than the lender. This is an example of asymmetric information in credit contract frictions.

When making investment decisions, the investment manager seeks to maximize his own fee and trading income rather than his investor’s returns. This is an example of moral hazard.

Managers make overly risky investment decisions that maximize shareholder value, shareholders will benefit from increasing risk to the firm’s assets as their investment is limited, but have unlimited upside potential. At the same time, the bondholders’ return is fixed, but their risk increases. This is an example of collective action problems.

Someone increases his exposure to risk when insured, knowing that he is protected against the risk and the other party will bear the cost of those risks. This is an example of risk shifting.

解释：

答案：A is correct

解析：

A选项正确，描述的是Asymmetric information；

B选项错误，B描述的是Principal-agent problems，基金经理为代理人，代理人在做投资决策是追求资金收益最大化，而并没有考虑到委托人基金投资者的利益。

C选项错误，C选项描述的是Risk shifting的问题。

D选项错误，D选项描述的是Moral hazard问题。

请问c不是代理人风险吗

问一道题：NO.PZ2019100902000021 [ FRM II ]

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